Calfrac Well Services (TSE:CFW) Upgraded to "Outperform" at ATB Cormark Capital Markets

Key Points

• ATB Cormark upgraded Calfrac Well Services from a "sector perform" to an "outperform" rating and raised its price target to C$7.00 (from C$5.25), implying about an 18.64% upside from the prior close.
• Shares traded at C$5.90 on Friday with above-average volume; the company reported C$0.06 EPS and C$292.18M revenue for the quarter, has a market cap of ~C$583.5M and a P/E of 25.08, and a 1-year range of C$2.98–C$5.99.

Calfrac Well Services (TSE:CFW - Get Free Report) was upgraded by investment analysts at ATB Cormark Capital Markets from a "sector perform" rating to an "outperform" rating in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a C$7.00 price target on the stock, up from their prior price target of C$5.25. ATB Cormark Capital Markets' price objective would suggest a potential upside of 18.64% from the company's previous close.

Calfrac Well Services Stock Performance

Shares of Calfrac Well Services stock traded up C$0.24 during trading hours on Friday, hitting C$5.90. 325,018 shares of the company were exchanged, compared to its average volume of 166,408. The company has a current ratio of 0.93, a quick ratio of 1.33 and a debt-to-equity ratio of 49.44. The business has a 50-day moving average of C$5.26 and a 200-day moving average of C$4.05. Calfrac Well Services has a 1 year low of C$2.98 and a 1 year high of C$5.99. The stock has a market capitalization of C$583.52 million, a price-to-earnings ratio of 25.08, a P/E/G ratio of -0.30 and a beta of 0.23.

Calfrac Well Services (TSE:CFW - Get Free Report) last posted its quarterly earnings data on Thursday, March 19th. The company reported C$0.06 earnings per share for the quarter. The firm had revenue of C$292.18 million for the quarter. Calfrac Well Services had a net margin of 1.37% and a return on equity of 3.06%. As a group, analysts expect that Calfrac Well Services will post 0.3798828 EPS for the current fiscal year.

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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