Trican Well Service (TSE:TCW) was downgraded by equities researchers at Raymond James from a “strong-buy” rating to an “outperform” rating in a report issued on Friday. They presently have a C$4.50 price target on the stock, down from their previous price target of C$6.25. Raymond James’ price target points to a potential upside of 99.12% from the company’s current price.
A number of other research analysts also recently weighed in on the company. BMO Capital Markets decreased their price target on Trican Well Service from C$4.00 to C$3.50 in a research note on Thursday, August 2nd. Canaccord Genuity decreased their price target on Trican Well Service from C$4.50 to C$4.25 in a research note on Friday, August 17th. Finally, Royal Bank of Canada downgraded Trican Well Service from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from C$5.00 to C$3.50 in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of C$4.85.
TCW stock traded down C$0.17 during mid-day trading on Friday, reaching C$2.26. The company had a trading volume of 4,357,259 shares, compared to its average volume of 2,820,045. Trican Well Service has a 52 week low of C$2.25 and a 52 week high of C$5.34.
In other news, insider Shaun Patrick Kelly purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was acquired at an average cost of C$2.75 per share, with a total value of C$55,000.00.
About Trican Well Service
Trican Well Service Ltd., an oilfield services company, provides various specialized products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily in Canada. It offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, gas migration prevention, cement design solutions, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services; and cement pumpers, bulk equipment, and cement auxiliary equipment.
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