TD Securities Lowers STEP Energy Services (STEP) to Hold

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TD Securities lowered shares of STEP Energy Services (TSE:STEP) from a buy rating to a hold rating in a research report released on Friday. The firm currently has C$4.00 target price on the stock, down from their prior target price of C$5.50.

A number of other equities research analysts have also recently issued reports on the stock. BMO Capital Markets cut shares of STEP Energy Services from an outperform rating to a market perform rating and decreased their price target for the company from C$12.00 to C$4.25 in a report on Friday. GMP Securities decreased their price target on shares of STEP Energy Services from C$11.00 to C$8.50 in a report on Friday. National Bank Financial cut shares of STEP Energy Services from an outperform rating to a sector perform rating and decreased their price target for the company from C$11.00 to C$6.50 in a report on Friday. CIBC decreased their price target on shares of STEP Energy Services from C$12.00 to C$10.00 in a report on Friday. Finally, Industrial Alliance Securities decreased their price target on shares of STEP Energy Services from C$16.25 to C$11.00 in a report on Tuesday, October 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. STEP Energy Services has an average rating of Hold and an average price target of C$9.28.

STEP stock traded down C$0.48 during mid-day trading on Friday, reaching C$2.85. 1,217,400 shares of the stock traded hands, compared to its average volume of 176,242. The company has a debt-to-equity ratio of 57.81, a quick ratio of 1.47 and a current ratio of 1.77. STEP Energy Services has a 52 week low of C$2.80 and a 52 week high of C$13.65.

In other news, insider David Todd Johnson purchased 3,800 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was bought at an average cost of C$7.78 per share, for a total transaction of C$29,564.00.

About STEP Energy Services

STEP Energy Services Ltd. operates as an oilfield service company that provides fracturing and coiled tubing solutions in Canada and the United States. It applies fit-for-purpose coiled tubing, pumping, and hydraulic fracturing technology to enhance reservoir performance in well stimulation and intervention projects for clients operating in unconventional oil, gas, and liquids rich plays.

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Analyst Recommendations for STEP Energy Services (TSE:STEP)

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