Calfrac Well Services (TSE:CFW) Downgraded by ATB Cormark Capital Markets to "Sector Perform"

Key Points

• ATB Cormark Capital Markets downgraded Calfrac Well Services from “outperform” to “sector perform” while keeping a C$7.50 price target, implying about 21.56% upside from the prior close.
• Shares rose 3.5% to C$6.17 on Friday, with the company trading below its 52-week high of C$7.20 and near its 50-day moving average of C$6.16.
• The stock currently carries a Hold consensus rating, while RBC recently lifted its price target from C$7.50 to C$8.00 and maintained a sector perform rating.

Calfrac Well Services (TSE:CFW - Get Free Report) was downgraded by equities researchers at ATB Cormark Capital Markets from an "outperform" rating to a "sector perform" rating in a report released on Friday,BayStreet.CA reports. They presently have a C$7.50 price objective on the stock. ATB Cormark Capital Markets' target price suggests a potential upside of 21.56% from the stock's previous close.

Separately, Royal Bank Of Canada raised their target price on shares of Calfrac Well Services from C$7.50 to C$8.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of C$7.75.

Calfrac Well Services Trading Up 3.5%

Shares of CFW stock traded up C$0.21 during trading hours on Friday, reaching C$6.17. The company's stock had a trading volume of 55,912 shares, compared to its average volume of 128,904. The company has a current ratio of 1.48, a quick ratio of 1.33 and a debt-to-equity ratio of 25.17. Calfrac Well Services has a one year low of C$3.02 and a one year high of C$7.20. The stock has a market capitalization of C$619.91 million, a P/E ratio of 13.41, a P/E/G ratio of -0.30 and a beta of -0.37. The firm's fifty day simple moving average is C$6.16 and its 200 day simple moving average is C$5.62.

Calfrac Well Services (TSE:CFW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported C$0.19 EPS for the quarter. The company had revenue of C$305.37 million during the quarter. Calfrac Well Services had a return on equity of 6.49% and a net margin of 3.29%. Equities research analysts expect that Calfrac Well Services will post 0.3798828 EPS for the current year.

Insiders Place Their Bets

In related news, Director Charles Pellerin bought 11,300 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of C$6.20 per share, for a total transaction of C$70,060.00. Following the completion of the acquisition, the director owned 6,222,723 shares of the company's stock, valued at C$38,580,882.60. This trade represents a 0.18% increase in their position. Also, insider Sime Armoyan sold 4,350,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of C$6.75, for a total value of C$29,362,500.00. Following the completion of the transaction, the insider directly owned 15,084,000 shares in the company, valued at approximately C$101,817,000. This represents a 22.38% decrease in their position. In the last ninety days, insiders purchased 30,997 shares of company stock valued at $186,495 and sold 20,456,098 shares valued at $134,044,544. 46.88% of the stock is owned by insiders.

Calfrac Well Services Company Profile

Calfrac Well Services Ltd provides specialized oilfield services, including hydraulic fracturing, coiled tubing, cementing, and other well completion services to the oil and natural gas industries in Canada, the United States, Russia, and Argentina. It generates maximum revenue from the United States.

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