Raymond James Issues Pessimistic Forecast for STEP Energy Services (TSE:STEP) Stock Price

STEP Energy Services (TSE:STEP) had its price target lowered by research analysts at Raymond James from C$6.25 to C$6.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective would suggest a potential upside of 42.86% from the company’s current price.

Several other analysts have also recently commented on the stock. Acumen Capital set a C$5.25 price target on shares of STEP Energy Services in a report on Friday, October 11th. BMO Capital Markets lifted their target price on shares of STEP Energy Services from C$4.50 to C$5.00 in a research note on Tuesday, November 5th.

STEP Energy Services Stock Down 14.5 %

STEP Energy Services stock traded down C$0.71 during mid-day trading on Friday, hitting C$4.20. The company’s stock had a trading volume of 254,992 shares, compared to its average volume of 134,183. STEP Energy Services has a 52-week low of C$3.37 and a 52-week high of C$5.26. The company has a market cap of C$301.06 million, a PE ratio of 4.67 and a beta of 2.07. 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 firm’s 50 day moving average is C$4.54 and its 200 day moving average is C$4.23.

STEP Energy Services Company Profile

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.