Ensign Energy Services (TSE:ESI) Given New C$2.75 Price Target at CIBC

Key Points

• CIBC has increased its price target for Ensign Energy Services from C$2.50 to C$2.75, indicating a potential upside of 10% from the last close.
• Royal Bank of Canada upgraded its rating for the company to a "hold" and set a price objective of C$3.00, while three analysts currently rate the stock as a "hold" with a consensus target price of C$3.30.
• Ensign Energy Services' stock price rose by 1.6%, trading at C$2.50, and the company has a market capitalization of C$459.31 million.

Ensign Energy Services (TSE:ESI - Get Free Report) had its price objective hoisted by CIBC from C$2.50 to C$2.75 in a report released on Wednesday,BayStreet.CA reports. CIBC's target price points to a potential upside of 10.00% from the company's previous close.

Separately, Royal Bank Of Canada downgraded Ensign Energy Services from a "moderate buy" rating to a "hold" rating and boosted their price objective for the stock from C$2.50 to C$3.00 in a research report on Thursday, October 9th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Ensign Energy Services presently has a consensus rating of "Hold" and a consensus target price of C$3.30.

Ensign Energy Services Stock Up 1.6%

TSE:ESI traded up C$0.04 during mid-day trading on Wednesday, reaching C$2.50. The stock had a trading volume of 76,710 shares, compared to its average volume of 180,898. The company has a market capitalization of C$459.31 million, a price-to-earnings ratio of -12.50, a price-to-earnings-growth ratio of 202.94 and a beta of 2.07. Ensign Energy Services has a 1-year low of C$1.73 and a 1-year high of C$3.52. The stock's 50 day simple moving average is C$2.29 and its two-hundred day simple moving average is C$2.18. The company has a debt-to-equity ratio of 84.02, a current ratio of 0.98 and a quick ratio of 1.30.

About Ensign Energy Services

Ensign Energy Services Inc offers services in drilling and well servicing, oil sands coring, directional drilling, underbalanced and managed pressure drilling, equipment rentals, transportation, wireline services, and production testing services. Ensign produces enhanced drilling with the help of its proprietary automated drilling rigs.

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