Precision Drilling (TSE:PD) Hits New 1-Year High After Analyst Upgrade

Shares of Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS reached a new 52-week high during trading on Tuesday after ATB Capital raised their price target on the stock from C$125.00 to C$126.00. The company traded as high as C$104.81 and last traded at C$102.82, with a volume of 73602 shares. The stock had previously closed at C$103.91.

Several other research analysts have also issued reports on PD. CIBC increased their price target on shares of Precision Drilling from C$100.00 to C$110.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 7th. Royal Bank of Canada decreased their price target on shares of Precision Drilling from C$125.00 to C$122.00 in a research note on Friday, January 12th. TD Securities cut their price objective on shares of Precision Drilling from C$125.00 to C$115.00 and set a "buy" rating on the stock in a research report on Wednesday, February 7th. BMO Capital Markets increased their price objective on shares of Precision Drilling from C$125.00 to C$130.00 and gave the company an "outperform" rating in a research report on Wednesday, February 7th. Finally, Evercore cut their price objective on shares of Precision Drilling from C$142.00 to C$139.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 7th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Precision Drilling has an average rating of "Buy" and an average price target of C$124.00.

Insider Activity

In related news, Director Carey Thomas Ford sold 7,976 shares of the firm's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of C$62.23, for a total value of C$496,346.48. In related news, Director Carey Thomas Ford sold 7,976 shares of the firm's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of C$62.23, for a total value of C$496,346.48. Also, Senior Officer Veronica H. Foley sold 1,763 shares of Precision Drilling stock in a transaction on Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total transaction of C$109,711.49. Insiders have sold a total of 21,373 shares of company stock worth $1,329,227 over the last quarter. Insiders own 1.32% of the company's stock.

Precision Drilling Price Performance

The stock has a market capitalization of C$1.48 billion, a PE ratio of 5.27, a price-to-earnings-growth ratio of -3.24 and a beta of 2.90. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 62.97. The stock's 50 day moving average price is C$86.57 and its 200-day moving average price is C$81.33.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS last released its quarterly earnings data on Tuesday, February 6th. The company reported C$4.70 earnings per share for the quarter, beating the consensus estimate of C$2.82 by C$1.88. The firm had revenue of C$506.87 million during the quarter, compared to the consensus estimate of C$476.00 million. Precision Drilling had a return on equity of 20.61% and a net margin of 14.93%. As a group, equities analysts forecast that Precision Drilling Co. will post 8.7760512 EPS for the current year.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.