Royal Bank Of Canada Boosts Pason Systems (TSE:PSI) Price Target to C$17.00

Key Points

• Royal Bank of Canada raised Pason Systems’ price target from C$16.00 to C$17.00 and maintained an “outperform” rating, implying 16.6% upside from the reported share price.
• Analyst sentiment is mixed but leans positive: Pason has an overall “Moderate Buy” rating and an average target price of C$15.83, despite TD lowering its target to C$15.00 and assigning a “hold” rating.
• Pason reported quarterly EPS of C$0.18 on revenue of C$100.78 million, while insiders sold 44,210 shares worth approximately C$640,831 over the past quarter.

Pason Systems (TSE:PSI - Get Free Report) had its price target lifted by analysts at Royal Bank Of Canada from C$16.00 to C$17.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 16.60% from the company's current price.

A number of other analysts have also recently issued reports on the stock. TD cut their target price on shares of Pason Systems from C$18.00 to C$15.00 and set a "hold" rating for the company in a research note on Monday, July 13th. TD Securities upgraded shares of Pason Systems from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$15.83.

Pason Systems Stock Performance

Pason Systems stock traded up C$1.79 during mid-day trading on Wednesday, hitting C$14.58. 310,403 shares of the company's stock traded hands, compared to its average volume of 242,024. The firm has a 50 day simple moving average of C$12.88 and a two-hundred day simple moving average of C$13.10. Pason Systems has a fifty-two week low of C$11.09 and a fifty-two week high of C$15.47. The stock has a market cap of C$1.13 billion, a price-to-earnings ratio of 24.30, a P/E/G ratio of 10.78 and a beta of 0.43. The company has a debt-to-equity ratio of 5.79, a current ratio of 2.11 and a quick ratio of 3.54.

Pason Systems (TSE:PSI - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported C$0.18 EPS for the quarter. Pason Systems had a net margin of 11.31% and a return on equity of 9.49%. The firm had revenue of C$100.78 million during the quarter. On average, research analysts expect that Pason Systems will post 1.229765 EPS for the current fiscal year.

Insider Transactions at Pason Systems

In other Pason Systems news, insider Ryan Van Beurden sold 15,000 shares of the company's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of C$14.49, for a total value of C$217,350.00. Following the transaction, the insider directly owned 11,000 shares of the company's stock, valued at C$159,390. This represents a 57.69% decrease in their position. Also, insider Celine Boston sold 13,200 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of C$14.46, for a total value of C$190,872.00. Following the transaction, the insider owned 1,893 shares in the company, valued at C$27,372.78. The trade was a 87.46% decrease in their position. Over the last quarter, insiders have sold 44,210 shares of company stock valued at $640,831. Company 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. Other product offerings include wellbore detection solutions, wellsite communications and bandwidth, wellbore gas analyzers, and software for data management.

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