Trican Well Service (TSE:TCW) Sets New 52-Week Low After Analyst Downgrade

Trican Well Service Ltd (TSE:TCW)’s stock price hit a new 52-week low during mid-day trading on Thursday after National Bank Financial lowered their price target on the stock from C$2.00 to C$1.70. National Bank Financial currently has an outperform rating on the stock. Trican Well Service traded as low as C$0.81 and last traded at C$0.84, with a volume of 315281 shares. The stock had previously closed at C$0.84.

Other research analysts have also recently issued reports about the company. Cormark reduced their price objective on Trican Well Service from C$3.50 to C$1.75 in a research note on Wednesday, May 8th. BMO Capital Markets reduced their price objective on Trican Well Service from C$1.75 to C$1.00 in a research note on Friday, August 2nd. AltaCorp Capital restated an “outperform” rating on shares of Trican Well Service in a research note on Thursday, June 20th. Raymond James cut Trican Well Service from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from C$3.00 to C$2.25 in a research note on Friday, August 2nd. Finally, CIBC cut Trican Well Service from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from C$2.00 to C$1.50 in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of C$1.51.

The stock has a market capitalization of $251.66 million and a price-to-earnings ratio of -1.33. The firm has a fifty day moving average of C$1.00 and a 200 day moving average of C$1.27. The company has a debt-to-equity ratio of 4.46, a current ratio of 1.78 and a quick ratio of 1.35.

About Trican Well Service (TSE:TCW)

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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