Pason Systems (TSE:PSI) Downgraded by TD to “Hold”

Pason Systems (TSE:PSI) was downgraded by investment analysts at TD from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, BayStreet reports. They presently have a C$15.00 price target on the stock. TD’s price objective indicates a potential upside of 9.17% from the stock’s previous close.

Separately, Royal Bank Of Canada increased their price target on shares of Pason Systems from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$15.83.

Pason Systems Stock Down 3.5%

TSE PSI traded down C$0.50 during trading hours on Tuesday, hitting C$13.74. The company’s stock had a trading volume of 145,562 shares, compared to its average volume of 235,968. Pason Systems has a 52 week low of C$11.50 and a 52 week high of C$15.47. The company has a market capitalization of C$1.07 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 10.78 and a beta of 0.61. The company has a current ratio of 2.29, a quick ratio of 3.54 and a debt-to-equity ratio of 5.51. The company’s 50-day simple moving average is C$14.29 and its two-hundred day simple moving average is C$13.66.

Pason Systems (TSE:PSI) last posted its quarterly earnings data on Tuesday, August 11th. The company reported C$0.18 earnings per share (EPS) for the quarter. Pason Systems had a net margin of 11.53% and a return on equity of 9.71%. The firm had revenue of C$100.78 million for the quarter. Research analysts anticipate that Pason Systems will post 1.23 EPS for the current fiscal year.

Insider Buying and Selling at Pason Systems

In related news, insider Jonathan Faber sold 45,000 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of C$14.55, for a total value of C$654,750.00. Following the sale, the insider owned 42,000 shares in the company, valued at approximately C$611,100. This trade represents a 51.72% decrease in their ownership of the stock. Also, insider Kevin Boston sold 2,714 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of C$14.74, for a total value of C$40,004.36. Following the completion of the sale, the insider directly owned 7,300 shares in the company, valued at approximately C$107,602. The trade was a 27.10% decrease in their position. Insiders have sold a total of 100,191 shares of company stock worth $1,455,400 in the last ninety days. Insiders own 0.13% of the company’s stock.

Pason Systems Company Profile

Pason Systems Inc is an oilfield specialist with fully integrated drilling data solutions. A host of products allow customers to collect, manage, report, and analyze drilling data for performance optimization and cost control. The electronic drilling recorder is the company’s primary product, and provides a complete system of drilling data acquisition, data networking, drilling management tools, and reports at both the wellsite and customer office. Other product offerings include wellbore detection solutions, wellsite communications and bandwidth, wellbore gas analyzers, and software for data management.