TD Securities cut shares of Trican Well Service (TSE:TCW) from a buy rating to a hold rating in a research note released on Friday. The firm currently has C$2.00 price target on the stock, down from their previous price target of C$3.00.
Several other research firms have also weighed in on TCW. BMO Capital Markets decreased their price target on Trican Well Service from C$4.00 to C$3.50 in a report on Thursday, August 2nd. Canaccord Genuity decreased their price target on Trican Well Service from C$4.50 to C$4.25 in a report on Friday, August 17th. Royal Bank of Canada lowered Trican Well Service from an outperform rating to a sector perform rating and decreased their price target for the company from C$5.00 to C$3.50 in a report on Thursday, September 20th. National Bank Financial decreased their price target on Trican Well Service from C$5.00 to C$3.50 and set an outperform rating on the stock in a report on Wednesday, September 26th. Finally, Raymond James lowered Trican Well Service from a strong-buy rating to an outperform rating and decreased their price target for the company from C$6.25 to C$4.50 in a report on Friday, September 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Trican Well Service currently has a consensus rating of Hold and an average price target of C$3.40.
TSE:TCW traded down C$0.07 during midday trading on Friday, hitting C$1.52. 5,487,100 shares of the company traded hands, compared to its average volume of 2,865,502. Trican Well Service has a 12-month low of C$1.45 and a 12-month high of C$5.04. The company has a debt-to-equity ratio of 6.74, a quick ratio of 2.02 and a current ratio of 2.64.
In other Trican Well Service news, insider Shaun Patrick Kelly bought 20,000 shares of Trican Well Service stock in a transaction on Wednesday, September 5th. The shares were acquired at an average price of C$2.75 per share, for a total transaction of C$55,000.00.
About Trican Well Service
Trican Well Service Ltd., an oilfield services company, provides various specialized products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily in Canada. It offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, gas migration prevention, cement design solutions, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services; and cement pumpers, bulk equipment, and cement auxiliary equipment.
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