STEP Energy Services (STEP) Stock Rating Lowered by BMO Capital Markets

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STEP Energy Services (TSE:STEP) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday. They currently have a C$4.25 price objective on the stock, down from their prior price objective of C$12.00. BMO Capital Markets’ price target would indicate a potential upside of 49.12% from the stock’s previous close.

A number of other research analysts also recently issued reports on STEP. National Bank Financial lowered their price target on STEP Energy Services from C$17.00 to C$15.50 and set an “outperform” rating on the stock in a report on Thursday, August 2nd. TD Securities lowered their price target on STEP Energy Services from C$14.50 to C$13.50 and set a “buy” rating on the stock in a report on Friday, August 3rd. CIBC lowered their target price on STEP Energy Services from C$24.00 to C$22.00 in a report on Friday, August 3rd. Industrial Alliance Securities lowered their target price on STEP Energy Services from C$17.25 to C$16.25 in a report on Friday, August 3rd. Finally, Royal Bank of Canada lowered their target price on STEP Energy Services from C$17.00 to C$15.00 and set an “outperform” rating on the stock in a report on Friday, August 3rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of C$9.28.

Shares of TSE:STEP opened at C$2.85 on Friday. The company has a debt-to-equity ratio of 57.81, a current ratio of 1.77 and a quick ratio of 1.47. STEP Energy Services has a 1 year low of C$2.80 and a 1 year high of C$13.65.

In other news, insider David Todd Johnson bought 3,800 shares of the stock in a transaction on Wednesday, August 15th. The shares were bought at an average price of C$7.78 per share, with a total value of C$29,564.00.

STEP Energy Services Company Profile

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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