Precision Drilling (TSE:PD) Stock Rating Lowered by TD Securities

Precision Drilling (TSE:PD) (NYSE:PDS) was downgraded by TD Securities from a “buy” rating to a “hold” rating in a report released on Monday,BayStreet.CA reports. They currently have a C$100.00 price target on the stock, down from their prior price target of C$120.00. TD Securities’ price target would indicate a potential upside of 19.86% from the company’s current price.

Several other research analysts have also weighed in on the company. Raymond James reduced their target price on Precision Drilling from C$143.00 to C$142.00 in a report on Tuesday, October 15th. ATB Capital lifted their price objective on Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$128.00.

Precision Drilling Stock Performance

PD stock opened at C$83.43 on Monday. Precision Drilling has a twelve month low of C$78.60 and a twelve month high of C$109.20. The company has a quick ratio of 1.36, a current ratio of 1.51 and a debt-to-equity ratio of 56.37. The company has a market cap of C$1.18 billion, a P/E ratio of 5.21, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The business’s fifty day moving average is C$87.99 and its 200-day moving average is C$90.11.

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.