Trican Well Service (TCW) Trading Down 4.7% Following Analyst Downgrade

Trican Well Service Ltd (TSE:TCW) was down 4.7% during trading on Wednesday after Canaccord Genuity lowered their price target on the stock from C$6.50 to C$6.00. The company traded as low as C$3.24 and last traded at C$3.28. Approximately 3,199,329 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 3,100,652 shares. The stock had previously closed at C$3.44.

A number of other equities research analysts have also recently commented on the stock. CIBC increased their price objective on shares of Trican Well Service from C$6.25 to C$6.50 in a research note on Tuesday, January 23rd. TD Securities lowered shares of Trican Well Service from a “buy” rating to a “hold” rating and reduced their target price for the company from C$6.00 to C$5.50 in a report on Wednesday, November 15th. JPMorgan Chase & Co. upped their target price on shares of Trican Well Service from C$5.00 to C$6.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Scotiabank set a C$7.25 target price on shares of Trican Well Service and gave the company an “outperform” rating in a report on Thursday, January 18th. Finally, BMO Capital Markets upped their target price on shares of Trican Well Service from C$4.50 to C$7.00 in a report on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of C$6.48.

The company has a market capitalization of $1,060.00, a price-to-earnings ratio of 15.60 and a beta of -0.58.

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About Trican Well Service

Trican Well Service Ltd. is a Canada-based oilfield services company. The Company provides an array of specialized products, equipment, services and technology for use in the drilling, completion, stimulation and reworking of oil and gas wells in Canada, the United States, Kazakhstan, Russia and Norway, as well as limited operations in Saudi Arabia and Colombia.

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