GMP Securities Lowers STEP Energy Services (STEP) Price Target to C$8.50

STEP Energy Services (TSE:STEP) had its price target lowered by GMP Securities from C$11.00 to C$8.50 in a research report released on Friday.

Other analysts have also recently issued reports about the company. National Bank Financial cut STEP Energy Services from an outperform rating to a sector perform rating and decreased their price objective for the stock from C$11.00 to C$6.50 in a research report on Friday. CIBC decreased their price objective on STEP Energy Services from C$12.00 to C$10.00 in a research report on Friday. Royal Bank of Canada decreased their price objective on 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. TD Securities decreased their price objective on 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. Finally, Industrial Alliance Securities cut their target price on STEP Energy Services from C$17.25 to C$16.25 in a research note on Friday, August 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. STEP Energy Services has a consensus rating of Hold and an average target price of C$9.28.

STEP Energy Services stock traded down C$0.48 during mid-day trading on Friday, reaching C$2.85. 1,217,400 shares of the company were exchanged, compared to its average volume of 176,242. STEP Energy Services has a twelve month low of C$2.80 and a twelve month high of C$13.65. The company has a quick ratio of 1.47, a current ratio of 1.77 and a debt-to-equity ratio of 57.81.

In other STEP Energy Services news, insider David Todd Johnson bought 3,800 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was acquired at an average cost of C$7.78 per share, with a total value of C$29,564.00.

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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Analyst Recommendations for STEP Energy Services (TSE:STEP)

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