TD Has Lowered Expectations for Pason Systems (TSE:PSI) Stock Price

Key Points

• TD cut its price target for Pason Systems from C$18.00 to C$15.00 while keeping a hold rating on the stock, implying about 16% upside from the prior close.
• Despite TD’s lower target, another recent note from TD Securities upgraded Pason Systems from hold to strong-buy; overall analyst sentiment remains mixed with a consensus Moderate Buy rating.
• The stock was up slightly to C$12.90 on Monday, while recent insider sales have been notable, including transactions by Bryce Mclean and Ryan Van Beurden, with insiders selling 57,210 shares over the last three months.

Pason Systems (TSE:PSI - Get Free Report) had its target price dropped by analysts at TD from C$18.00 to C$15.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. TD's target price indicates a potential upside of 16.28% from the stock's previous close.

Separately, TD Securities upgraded shares of Pason Systems from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$14.38.

Pason Systems Stock Up 0.4%

PSI stock traded up C$0.05 during trading on Monday, hitting C$12.90. 128,284 shares of the company's stock were exchanged, compared to its average volume of 224,491. The business has a 50-day moving average price of C$13.61 and a two-hundred day moving average price of C$12.99. The stock has a market capitalization of C$1.00 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 10.78 and a beta of 0.46. Pason Systems has a 52-week low of C$11.09 and a 52-week high of C$15.47. The company has a current ratio of 2.11, a quick ratio of 3.54 and a debt-to-equity ratio of 5.79.

Pason Systems (TSE:PSI - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.17 EPS for the quarter. Pason Systems had a net margin of 11.31% and a return on equity of 9.49%. The company had revenue of C$102.44 million for the quarter. As a group, equities research analysts expect that Pason Systems will post 1.229765 EPS for the current year.

Insider Activity at Pason Systems

In other news, insider Bryce Mclean sold 8,410 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of C$14.50, for a total value of C$121,945.00. Following the completion of the sale, the insider directly owned 8,853 shares of the company's stock, valued at approximately C$128,368.50. This represents a 48.72% decrease in their ownership of the stock. Also, insider Ryan Van Beurden sold 15,000 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of C$14.49, for a total transaction of C$217,350.00. Following the sale, the insider owned 11,000 shares of the company's stock, valued at C$159,390. This trade represents a 57.69% decrease in their position. Insiders sold a total of 57,210 shares of company stock worth $831,411 in the last three months. Company insiders own 0.13% of the company's stock.

Pason Systems Company Profile

Pason Systems Inc is an oilfield specialist with fully integrated drilling data solutions. A host of products allow customers to collect, manage, report, and analyze drilling data for performance optimization and cost control. The electronic drilling recorder is the company's primary product, and provides a complete system of drilling data acquisition, data networking, drilling management tools, and reports at both the wellsite and customer office. Other product offerings include wellbore detection solutions, wellsite communications and bandwidth, wellbore gas analyzers, and software for data management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.