STEP Energy Services (TSE:STEP) Given New C$5.50 Price Target at Raymond James

STEP Energy Services (TSE:STEP) had its price target cut by investment analysts at Raymond James from C$6.25 to C$5.50 in a report released on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price would suggest a potential upside of 57.14% from the company’s current price.

A number of other brokerages have also commented on STEP. BMO Capital Markets lowered STEP Energy Services from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from C$7.50 to C$4.50 in a report on Tuesday. Stifel Nicolaus cut STEP Energy Services from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$6.00 to C$4.50 in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$5.89.

STEP Energy Services Stock Down 6.7 %

STEP Energy Services stock traded down C$0.25 during midday trading on Wednesday, reaching C$3.50. The stock had a trading volume of 503,607 shares, compared to its average volume of 140,647. STEP Energy Services has a 12 month low of C$2.63 and a 12 month high of C$4.82. The company has a fifty day moving average price of C$4.30 and a two-hundred day moving average price of C$4.17. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 31.85. The company has a market capitalization of C$252.81 million, a P/E ratio of 3.65 and a beta of 2.25.

About STEP Energy Services

STEP Energy Services Ltd., an oilfield service company, provides integrated coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing to service oil and natural gas industry in Canada and the United States. It also provides fluid pumping services for coiled tubing operations and involved in standalone projects.