Trican Well Service (TSE:TCW) Sets New 12-Month Low Following Analyst Downgrade

Trican Well Service Ltd (TSE:TCW) shares hit a new 52-week low during 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 trading hands. The stock had previously closed at C$0.84.

A number of other brokerages have also commented on TCW. CIBC lowered shares of Trican Well Service from an “outperform” rating to a “neutral” rating and cut their price objective for the company from C$2.00 to C$1.50 in a research report on Thursday, July 18th. TD Securities cut their price objective on shares of Trican Well Service from C$1.40 to C$1.25 and set a “hold” rating for the company in a research report on Friday, August 2nd. Canaccord Genuity cut their price objective on shares of Trican Well Service from C$1.55 to C$1.20 in a research report on Tuesday, July 9th. Cormark cut their price objective on shares of Trican Well Service from C$3.50 to C$1.75 in a research report on Wednesday, May 8th. Finally, Raymond James lowered shares of Trican Well Service from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from C$3.00 to C$2.25 in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of C$1.51.

The company has a quick ratio of 1.35, a current ratio of 1.78 and a debt-to-equity ratio of 4.46. The stock has a market cap of $251.66 million and a price-to-earnings ratio of -1.33. The company’s 50-day moving average is C$1.00 and its 200-day moving average is C$1.27.

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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