STEP Energy Services (TSE:STEP) Trading 27.2% Higher - Still a Buy?

Key Points

• STEP Energy Services Ltd. experienced a significant share price increase of 27.2%, reaching a high of C$5.48 during mid-day trading on Thursday.
• Analysts have a consensus rating of "Moderate Buy" for the stock, with a revised price target of C$5.04 after Royal Bank of Canada raised their target from C$4.25 to C$4.50.
• The company has strong liquidity measurements with a quick ratio of 1.11 and a current ratio of 1.39, although it carries a high debt-to-equity ratio of 22.04.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report)'s share price shot up 27.2% during mid-day trading on Thursday . The company traded as high as C$5.48 and last traded at C$5.42. 341,902 shares traded hands during trading, an increase of 771% from the average session volume of 39,252 shares. The stock had previously closed at C$4.26.

Analysts Set New Price Targets

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

STEP Energy Services Stock Performance

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 50-day moving average price of C$4.33 and a two-hundred day moving average price of C$4.15. The stock has a market capitalization of C$394.98 million, a P/E ratio of -20.07 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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