TD Securities Issues Pessimistic Forecast for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS had its target price decreased by TD Securities from C$89.00 to C$69.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. TD Securities' price target would suggest a potential upside of 18.52% from the company's current price.

A number of other brokerages have also weighed in on PD. Royal Bank of Canada dropped their price objective on shares of Precision Drilling from C$121.00 to C$110.00 in a report on Friday, February 14th. Raymond James downgraded Precision Drilling from a "strong-buy" rating to an "outperform" rating and decreased their target price for the stock from C$141.00 to C$124.00 in a report on Wednesday, April 9th. Finally, CIBC decreased their price objective on shares of Precision Drilling from C$115.00 to C$95.00 in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of C$98.33.

Precision Drilling Stock Down 3.0 %

TSE:PD traded down C$1.82 during midday trading on Wednesday, reaching C$58.22. 68,717 shares of the stock traded hands, compared to its average volume of 150,204. The company has a debt-to-equity ratio of 51.98, a quick ratio of 1.36 and a current ratio of 1.54. The stock has a market capitalization of C$828.48 million, a PE ratio of 3.43, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. Precision Drilling has a 12-month low of C$51.38 and a 12-month high of C$109.20. The business has a 50-day moving average of C$66.38 and a two-hundred day moving average of C$79.70.

Insider Activity

In other news, Senior Officer Veronica H. Foley sold 3,393 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total value of C$263,499.70. Also, Director Carey Thomas Ford sold 5,108 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$396,686.26. Insiders own 2.12% of the company's stock.

About Precision Drilling

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.