TD Securities Downgrades Pason Systems (TSE:PSI) to Hold

Pason Systems (TSE:PSI - Get Free Report) was downgraded by analysts at TD Securities from a "buy" rating to a "hold" rating in a research note issued to investors on Friday,BayStreet.CA reports. They currently have a C$13.00 price objective on the stock. TD Securities' target price would suggest a potential upside of 8.70% from the company's current price.

Separately, Royal Bank Of Canada lowered their price objective on Pason Systems from C$18.00 to C$16.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th.

Pason Systems Stock Down 2.4%

Shares of TSE:PSI traded down C$0.29 during trading on Friday, hitting C$11.96. The stock had a trading volume of 214,742 shares, compared to its average volume of 152,515. Pason Systems has a 12 month low of C$10.43 and a 12 month high of C$17.74. The company has a market capitalization of C$952.05 million, a PE ratio of 8.44, a PEG ratio of 10.78 and a beta of 1.58. The firm's fifty day moving average is C$12.36 and its 200 day moving average is C$12.62. The company has a quick ratio of 3.54, a current ratio of 2.59 and a debt-to-equity ratio of 3.19.

Insider Buying and Selling

In related news, Senior Officer Jonathan Faber sold 2,600 shares of Pason Systems stock in a transaction on Monday, June 2nd. The stock was sold at an average price of C$12.33, for a total value of C$32,058.00. Also, Senior Officer Lars Olesen sold 2,200 shares of Pason Systems stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of C$12.02, for a total value of C$26,444.00. Insiders have sold a total of 24,500 shares of company stock valued at $298,172 over the last ninety days. 0.13% of the stock is owned by insiders.

Pason Systems Company Profile

Pason Systems Inc, together with its subsidiaries, provides instrumentation and data management systems for drilling rigs in Canada, the United States, and internationally. The company provides Electronic Drilling Recorder, which provides real-time drilling data to rig site personnel; DataHub with Pason Live, which is used as the central repository for data and reports captured at the rigs for real-time; and DataLink that provides automated in-house databases, third-party analytics platforms, remote geosteering, and other remote services.