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

Key Points

• STEP Energy Services (TSE:STEP) experienced a significant 27% increase in stock price during mid-day trading, reaching as high as C$5.48 from a previous close of C$4.26.
• Analysts have given STEP Energy Services a consensus rating of "Moderate Buy", with an average price target of C$5.04 after Royal Bank of Canada raised its target to C$4.50.
• The company has a market cap of approximately C$394.98 million and operates in the energy services sector, providing solutions like coiled tubing and hydraulic fracturing.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report) rose 27% during mid-day trading on Friday . The company traded as high as C$5.48 and last traded at C$5.41. Approximately 430,190 shares were traded 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.

Analyst Upgrades and Downgrades

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

STEP Energy Services Price Performance

The firm's 50-day moving average price is C$4.35 and its two-hundred day moving average price is C$4.16. The stock has a market cap of C$394.98 million, a PE ratio of -20.07 and a beta of 1.93. The company has a current ratio of 1.39, a quick ratio of 1.11 and a debt-to-equity ratio of 22.04.

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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