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

STEP Energy Services (TSE:STEP) was upgraded by analysts at Cormark from a “tender” rating to a “buy” rating in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a C$5.50 price objective on the stock, up from their prior price objective of C$5.00. Cormark’s price target would indicate a potential upside of 24.15% from the company’s current price.

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

STEP Energy Services Stock Up 1.6 %

TSE STEP traded up C$0.07 on Monday, reaching C$4.43. The stock had a trading volume of 49,804 shares, compared to its average volume of 110,120. STEP Energy Services has a 1 year low of C$3.37 and a 1 year high of C$5.26. The company has a current ratio of 1.47, a quick ratio of 1.11 and a debt-to-equity ratio of 25.45. The company has a market capitalization of C$317.54 million, a price-to-earnings ratio of 4.92 and a beta of 2.07. The business has a 50 day moving average price of C$4.66 and a 200 day moving average price of C$4.24.

Insider Buying and Selling

In related news, Senior Officer Bradley James Mcfarlane sold 18,001 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were 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.