STEP Energy Services (STEP) Cut to Sector Perform at National Bank Financial
STEP Energy Services (TSE:STEP) was downgraded by National Bank Financial from an “outperform” rating to a “sector perform” rating in a research note issued on Friday. They currently have a C$6.50 price target on the stock, down from their prior price target of C$11.00. National Bank Financial’s price objective points to a potential upside of 128.07% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the stock. CIBC lowered their price target on shares of STEP Energy Services from C$12.00 to C$10.00 in a research report on Friday. Industrial Alliance Securities lowered their price target on shares of STEP Energy Services from C$16.25 to C$11.00 in a research report on Tuesday, October 9th. TD Securities lowered their price target on shares of STEP Energy Services from C$14.50 to C$13.50 and set a “buy” rating for the company in a research report on Friday, August 3rd. Raymond James cut shares of STEP Energy Services from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from C$18.00 to C$15.00 in a research report on Friday, September 21st. Finally, Royal Bank of Canada lowered their price target on shares of STEP Energy Services from C$17.00 to C$15.00 and set an “outperform” rating for the company in a research report on Friday, August 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. STEP Energy Services currently has a consensus rating of “Hold” and a consensus price target of C$9.28.
Shares of TSE:STEP opened at C$2.85 on Friday. STEP Energy Services has a one year low of C$2.80 and a one year high of C$13.65. The company has a debt-to-equity ratio of 57.81, a quick ratio of 1.47 and a current ratio of 1.77.
About STEP Energy Services
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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