STEP Energy Services (TSE:STEP) Stock Price Up 27% - Should You Buy?

Key Points

• STEP Energy Services shares surged 27% to C$5.41, with a trading volume increase of 982% compared to the average.
• Royal Bank of Canada upgraded the price target for STEP Energy Services from C$4.25 to C$4.50, maintaining a "sector perform" rating.
• The stock currently has a consensus rating of "Moderate Buy" and a target price of C$5.04, with two analysts rating it a Buy and two a Hold.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report) shares shot up 27% during trading on Friday . The stock traded as high as C$5.48 and last traded at C$5.41. 430,190 shares traded hands during trading, an increase of 982% from the average session volume of 39,744 shares. The stock had previously closed at C$4.26.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada raised their price objective on STEP Energy Services from C$4.25 to C$4.50 and gave the stock a "sector perform" rating in a research report on Thursday, June 26th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$5.04.

STEP Energy Services Price Performance

The stock's 50 day simple moving average is C$4.35 and its 200-day simple moving average is C$4.16. The firm has a market cap of C$394.25 million, a price-to-earnings ratio of -20.04 and a beta of 1.93. The company has a debt-to-equity ratio of 22.04, a quick ratio of 1.11 and a current ratio of 1.39.

About STEP Energy Services

STEP Energy Services is an energy services company that provides coiled tubing, fluid and nitrogen pumping and hydraulic fracturing solutions. Our combination of modern equipment along with our commitment to safety and quality execution has differentiated STEP in plays where wells are deeper, have longer laterals and higher pressures.

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