STEP Energy Services (TSE:STEP) Raised to Buy at Cormark

STEP Energy Services (TSE:STEP) was upgraded by investment analysts at Cormark from a “tender” rating to a “buy” rating in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a C$5.50 target price on the stock, up from their prior target price of C$5.00. Cormark’s price objective would suggest a potential upside of 21.41% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Acumen Capital set a C$5.25 price target on shares of STEP Energy Services in a report on Friday, October 11th. Raymond James cut their price objective on STEP Energy Services from C$6.25 to C$6.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. BMO Capital Markets boosted their price target on shares of STEP Energy Services from C$4.50 to C$5.00 in a research report on Tuesday, November 5th. Finally, ATB Capital decreased their price objective on shares of STEP Energy Services from C$5.50 to C$5.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, STEP Energy Services presently has an average rating of “Moderate Buy” and an average price target of C$5.21.

STEP Energy Services Stock Up 3.9 %

TSE STEP opened at C$4.53 on Monday. STEP Energy Services has a fifty-two week low of C$3.37 and a fifty-two week high of C$5.26. The business has a fifty day moving average price of C$4.68 and a two-hundred day moving average price of C$4.24. The company has a debt-to-equity ratio of 25.45, a current ratio of 1.47 and a quick ratio of 1.11. The stock has a market capitalization of C$324.71 million, a PE ratio of 5.03 and a beta of 2.07.

Insiders Place Their Bets

In related news, Senior Officer Bradley James Mcfarlane sold 18,001 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of C$4.20, for a total transaction of C$75,604.20. Corporate insiders own 0.50% of the company’s stock.

About STEP Energy Services

STEP Energy Services Ltd., an energy services 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; pipeline commissioning and maintenance services; fracturing logistics services; and laboratory services.