Pason Systems (TSE:PSI) Stock Passes Below 200-Day Moving Average - Should You Sell?

Key Points

• Pason Systems' stock has fallen below its 200-day moving average of C$11.96, currently trading at C$11.99 with increased trading volume.
• TD Securities downgraded the stock from a "buy" to a "hold" rating, setting a target price of C$13.00, while the consensus target price remains at C$16.17.
• The company announced a quarterly dividend of $0.13 per share, equating to a 4.3% yield, with a dividend payout ratio of 55.91%.

Pason Systems Inc. (TSE:PSI - Get Free Report) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$11.96 and traded as low as C$11.90. Pason Systems shares last traded at C$11.99, with a volume of 72,077 shares trading hands.

Analyst Ratings Changes

Separately, TD Securities cut Pason Systems from a "buy" rating to a "hold" rating and set a C$13.00 target price on the stock. in a research note on Friday, July 18th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Pason Systems presently has an average rating of "Hold" and a consensus target price of C$16.17.

Pason Systems Price Performance

The company has a debt-to-equity ratio of 3.19, a current ratio of 2.59 and a quick ratio of 3.54. The firm has a market cap of C$935.88 million, a PE ratio of 12.89, a price-to-earnings-growth ratio of 10.78 and a beta of 0.73. The firm has a 50-day simple moving average of C$11.77 and a 200 day simple moving average of C$11.96.

Pason Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.52 annualized dividend and a yield of 4.3%. Pason Systems's dividend payout ratio (DPR) is currently 55.91%.

Insider Buying and Selling at Pason Systems

In other Pason Systems news, insider Kevin Boston sold 3,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of C$11.94, for a total value of C$35,820.00. Following the sale, the insider directly owned 7,300 shares of the company's stock, valued at approximately C$87,162. The trade was a 29.13% decrease in their ownership of the stock. Also, insider Celine Boston sold 11,250 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of C$11.87, for a total value of C$133,537.50. Following the completion of the sale, the insider directly owned 1,893 shares in the company, valued at approximately C$22,469.91. This represents a 85.60% decrease in their ownership of the stock. Insiders have sold 15,750 shares of company stock valued at $187,133 in the last three months. Insiders own 0.13% of the company's stock.

About Pason Systems

Pason Systems Inc is an oilfield specialist with fully integrated drilling data solutions. A host of products allow customers to collect, manage, report, and analyze drilling data for performance optimization and cost control. The electronic drilling recorder is the company's primary product, and provides a complete system of drilling data acquisition, data networking, drilling management tools, and reports at both the wellsite and customer office.

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