Cormark Upgrades STEP Energy Services (TSE:STEP) to Buy

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

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

STEP Energy Services Trading Up 1.6 %

Shares of STEP traded up C$0.07 during mid-day trading on Monday, reaching C$4.43. 49,804 shares of the company’s stock traded hands, compared to its average volume of 110,120. The stock has a market cap of C$317.54 million, a P/E ratio of 4.92 and a beta of 2.07. The stock’s 50-day moving average is C$4.66 and its two-hundred day moving average is C$4.24. The company has a debt-to-equity ratio of 25.45, a current ratio of 1.47 and a quick ratio of 1.11. STEP Energy Services has a 12 month low of C$3.37 and a 12 month high of C$5.26.

Insider Activity

In other news, Senior Officer Bradley James Mcfarlane sold 18,001 shares of STEP Energy Services stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of C$4.20, for a total value of C$75,604.20. Insiders own 0.50% of the company’s stock.

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.