Precision Drilling (TSE:PD) Rating Lowered to “Hold” at TD Securities

Precision Drilling (TSE:PD) (NYSE:PDS) was downgraded by investment analysts at TD Securities from a “buy” rating to a “hold” rating in a report released on Monday,BayStreet.CA reports. They presently have a C$100.00 price target on the stock, down from their prior price target of C$120.00. TD Securities’ price target points to a potential upside of 22.25% from the stock’s current price.

A number of other brokerages also recently commented on PD. ATB Capital boosted their target price on shares of Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. Raymond James reduced their price objective on shares of Precision Drilling from C$143.00 to C$142.00 in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$128.00.

Precision Drilling Stock Down 3.5 %

TSE PD traded down C$2.95 during midday trading on Monday, hitting C$81.80. 143,914 shares of the company traded hands, compared to its average volume of 104,807. The company has a market cap of C$1.15 billion, a PE ratio of 5.11, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The company has a debt-to-equity ratio of 56.37, a current ratio of 1.51 and a quick ratio of 1.36. Precision Drilling has a 52 week low of C$78.60 and a 52 week high of C$109.20. The company’s 50-day simple moving average is C$88.36 and its 200-day simple moving average is C$90.25.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.