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

Key Points

• Shares of STEP Energy Services Ltd. surged 27% to C$5.41, marking a significant increase from its previous closing price of C$4.26, with trading volume up 982% from average levels.
• Analysts from the Royal Bank of Canada have raised their price target for STEP Energy Services from C$4.25 to C$4.50, giving it a "sector perform" rating.
• The stock currently holds a consensus rating of "Moderate Buy," with an average target price set at C$5.04.

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

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada raised their price objective 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 given a Hold rating to the company's stock. According to data from MarketBeat, STEP Energy Services currently has a consensus rating of "Moderate Buy" and an average target price of C$5.04.

STEP Energy Services Stock Up 27.0%

The stock has a fifty day moving average of C$4.35 and a two-hundred day moving average 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 stock has a market cap of C$394.25 million, a price-to-earnings ratio of -20.04 and a beta of 1.93.

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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