Calfrac Well Services (TSE:CFW) Price Target Raised to C$7.50 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its price target on Calfrac to C$7.50 (from C$7.00), implying about a 28.9% upside from the current price; ATB Cormark also upgraded the stock to "moderate buy" and the average analyst target is C$7.25.
• CFW is trading around C$5.82 with a market cap of C$581.3M and P/E of 17.12; the company reported QEPS of C$0.06 on C$292.2M revenue, with a modest net margin (2.18%) and ROE (4.57%).
• An insider sold 20,000 shares (reducing his position by 96.7%), though company insiders collectively still own 46.88% of the stock.

Calfrac Well Services (TSE:CFW - Get Free Report) had its target price hoisted by research analysts at Royal Bank Of Canada from C$7.00 to C$7.50 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective points to a potential upside of 28.87% from the stock's current price.

Separately, ATB Cormark Capital Markets raised shares of Calfrac Well Services from a "hold" rating to a "moderate buy" rating and boosted their price objective for the company from C$5.25 to C$7.00 in a research note on Friday, March 20th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Calfrac Well Services currently has an average rating of "Moderate Buy" and an average target price of C$7.25.

Calfrac Well Services Stock Performance

CFW traded down C$0.17 during trading on Tuesday, hitting C$5.82. The stock had a trading volume of 66,810 shares, compared to its average volume of 159,269. The company has a debt-to-equity ratio of 33.41, a quick ratio of 1.33 and a current ratio of 1.77. The firm has a market capitalization of C$581.26 million, a P/E ratio of 17.12, a PEG ratio of -0.30 and a beta of -0.25. The company's 50-day moving average price is C$5.77 and its 200 day moving average price is C$4.44. Calfrac Well Services has a twelve month low of C$3.02 and a twelve month high of C$6.80.

Calfrac Well Services (TSE:CFW - Get Free Report) last announced its quarterly earnings data on Thursday, March 19th. The company reported C$0.06 earnings per share (EPS) for the quarter. The company had revenue of C$292.18 million for the quarter. Calfrac Well Services had a net margin of 2.18% and a return on equity of 4.57%. On average, equities research analysts forecast that Calfrac Well Services will post 0.3798828 EPS for the current fiscal year.

Insider Buying and Selling at Calfrac Well Services

In other news, insider Mark Ryan Ellingson sold 20,000 shares of the company's stock in a transaction on Monday, March 30th. The shares were sold at an average price of C$6.64, for a total transaction of C$132,800.00. Following the transaction, the insider directly owned 683 shares of the company's stock, valued at C$4,535.12. This represents a 96.70% decrease in their position. 46.88% of the stock is currently owned by company insiders.

About Calfrac Well Services

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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