STEP Energy Services (TSE:STEP) Trading 27% Higher - Should You Buy?

Key Points

• STEP Energy Services shares surged 27% during mid-day trading, reaching C$5.48, significantly up from the previous close of C$4.26.
• Royal Bank of Canada raised its price target for STEP Energy Services from C$4.25 to C$4.50, maintaining a "sector perform" rating.
• The company has a market capitalization of C$394.25 million and a current consensus rating of "Moderate Buy" with an average price target of C$5.04.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report) traded up 27% during mid-day trading on Thursday . The company traded as high as C$5.48 and last traded at C$5.41. 430,190 shares traded hands during mid-day 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 lifted their price target on shares of STEP Energy Services from C$4.25 to C$4.50 and gave the company a "sector perform" rating in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, STEP Energy Services currently has a consensus rating of "Moderate Buy" and an average price target of C$5.04.

STEP Energy Services Stock Performance

The company has a market capitalization of C$394.25 million, a P/E ratio of -20.04 and a beta of 1.93. The stock has a fifty day simple moving average of C$4.33 and a 200-day simple moving average of C$4.15. The company has a quick ratio of 1.11, a current ratio of 1.39 and a debt-to-equity ratio of 22.04.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.