STEP Energy Services (TSE:STEP) Trading 27% Higher - Time to Buy?

Key Points

• STEP Energy Services saw a significant share price increase of 27%, trading between C$5.41 and C$5.48, well above its previous close of C$4.26.
• The Royal Bank of Canada has raised its target price for the stock from C$4.25 to C$4.50, with a consensus rating of "Moderate Buy" from analysts.
• The company specializes in energy services such as coiled tubing and hydraulic fracturing, with a current market cap of C$394.25 million.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report)'s share price 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 were traded 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.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada lifted their target price on 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 analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$5.04.

STEP Energy Services Price Performance

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

STEP Energy Services Company Profile

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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