Home Energy services STEP Energy Services (TSE:STEP) upgraded to buy from Raymond James

STEP Energy Services (TSE:STEP) upgraded to buy from Raymond James

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WWTP Energy Services (EAST: STAGEGet a rating) was upgraded by Raymond James equity researchers to a “buy” rating in a report released on Tuesday, TipRanks reports. The company currently has a price target of C$7.75 on the stock. Raymond James’ price target indicates an upside potential of 55.62% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. ATB Capital raised its price target on shares of STEP Energy Services to C$9.00 and gave the stock an “outperform” rating in a research report on Wednesday. BMO Capital Markets downgraded shares of STEP Energy Services from a ‘market performance’ rating to a ‘buy’ rating and raised its target price for the company from C$2.50 to C$4.00 CA in a research note from Friday, April 1. Finally, Royal Bank of Canada downgraded shares of STEP Energy Services from a “sector performance” rating to a “buy” rating and raised its target price for the company from C$4.00 to CA$8.00 in a research note from Monday, May 16.

Shares of Stock STEP opened at C$4.98 on Tuesday. STEP Energy Services has a one-year minimum of CA$1.32 and a one-year maximum of CA$5.85. The company’s 50-day moving average is C$4.52 and its 200-day moving average is C$2.91. The company has a market cap of C$339.66 million and a price-to-earnings ratio of -30.74. The company has a debt ratio of 128.82, a quick ratio of 1.09 and a current ratio of 1.36.

About STEP Energy Services (Get a rating)

STEP Energy Services Ltd., an oilfield services company, provides integrated coiled tubing, fracturing and cable solutions to serve the oil and gas industry in Canada and the United States. It also provides chemical laboratory solutions; fluid pumping services for coiled tubing operations and stand-alone projects; and nitrogen pumping solutions for coiled tubing and hydraulic fracturing operations, as well as cased-hole wireline and open-hole wireline services.

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