STEP Energy Services (STEP) Price Target Cut to C$8.50

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STEP Energy Services (TSE:STEP) had its price objective decreased by research analysts at GMP Securities from C$11.00 to C$8.50 in a research report issued on Friday. GMP Securities’ target price indicates a potential upside of 197.20% from the stock’s current price.

Several other equities analysts have also commented on the stock. Raymond James lowered shares of STEP Energy Services from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from C$18.00 to C$15.00 in a research report on Friday, September 21st. CIBC decreased their price objective on shares of STEP Energy Services from C$22.00 to C$12.00 in a research report on Tuesday, October 16th. National Bank Financial decreased their price objective on shares of STEP Energy Services from C$15.50 to C$12.00 and set an “outperform” rating for the company in a research report on Wednesday, September 26th. Industrial Alliance Securities decreased their price objective on shares of STEP Energy Services from C$16.25 to C$11.00 in a research report on Tuesday, October 9th. Finally, TD Securities decreased their price objective on shares of STEP Energy Services from C$14.50 to C$13.50 and set a “buy” rating for the company in a research report on Friday, August 3rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. STEP Energy Services presently has a consensus rating of “Hold” and a consensus price target of C$9.28.

Shares of STEP Energy Services stock traded down C$0.47 during midday trading on Friday, hitting C$2.86. The company had a trading volume of 952,021 shares, compared to its average volume of 175,021. The company has a quick ratio of 1.47, a current ratio of 1.77 and a debt-to-equity ratio of 57.81. STEP Energy Services has a 12-month low of C$2.81 and a 12-month high of C$13.65.

In other STEP Energy Services news, insider David Todd Johnson purchased 3,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were bought at an average price 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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