Royal Bank Of Canada Issues Pessimistic Forecast for Pason Systems (TSE:PSI) Stock Price

Key Points

• Royal Bank of Canada has reduced its target price for Pason Systems (TSE: PSI) from C$16.00 to C$14.00, suggesting a potential upside of 17.55% from the current price.
• TD Securities has downgraded Pason Systems from a "buy" to a "hold" rating, setting a new price objective of C$13.00.
• Insiders sold a total of 15,750 shares of Pason Systems stock in the past 90 days, indicating a significant decrease in their ownership positions.

Pason Systems (TSE:PSI - Get Free Report) had its target price reduced by stock analysts at Royal Bank Of Canada from C$16.00 to C$14.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 17.55% from the company's current price.

Separately, TD Securities downgraded Pason Systems from a "buy" rating to a "hold" rating and set a C$13.00 price objective on the stock. in a research note on Friday, July 18th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Pason Systems currently has an average rating of "Hold" and an average target price of C$15.50.

Pason Systems Trading Up 0.1%

PSI traded up C$0.01 during mid-day trading on Thursday, reaching C$11.91. The stock had a trading volume of 38,495 shares, compared to its average volume of 170,354. The stock has a market capitalization of C$929.64 million, a P/E ratio of 12.81, a P/E/G ratio of 10.78 and a beta of 0.73. The company has a debt-to-equity ratio of 3.19, a quick ratio of 3.54 and a current ratio of 2.59. The firm's fifty day simple moving average is C$11.77 and its two-hundred day simple moving average is C$11.96. Pason Systems has a 52 week low of C$10.43 and a 52 week high of C$15.47.

Insider Activity

In related news, insider Kevin Boston sold 3,000 shares of Pason Systems stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of C$11.94, for a total transaction of C$35,820.00. Following the completion of the transaction, the insider owned 7,300 shares in the company, valued at approximately C$87,162. This trade represents a 29.13% decrease in their ownership of the stock. Also, insider Celine Boston sold 11,250 shares of Pason Systems stock in a transaction dated 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 transaction, the insider owned 1,893 shares of the company's stock, valued at C$22,469.91. The trade was a 85.60% decrease in their position. Insiders sold a total of 15,750 shares of company stock valued at $187,133 in the last 90 days. 0.13% of the stock is owned by corporate insiders.

Pason Systems Company Profile

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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