STEP Energy Services (TSE:STEP) Downgraded by Raymond James to “Market Perform”

STEP Energy Services (TSE:STEP) was downgraded by research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report released on Wednesday,BayStreet.CA reports. They currently have a C$5.00 target price on the stock, down from their prior target price of C$5.50. Raymond James’ target price points to a potential upside of 37.36% from the company’s current price.

Several other equities analysts have also recently issued reports on STEP. Cormark upgraded STEP Energy Services from a “tender” rating to a “buy” rating and raised their price target for the company from C$5.00 to C$5.50 in a report on Monday, January 6th. ATB Capital dropped their price objective on STEP Energy Services from C$5.50 to C$5.00 and set an “outperform” rating for the company in a report on Monday, December 23rd.

STEP Energy Services Price Performance

Shares of TSE STEP traded up C$0.13 during trading on Wednesday, reaching C$3.64. The company had a trading volume of 23,720 shares, compared to its average volume of 70,913. The company has a debt-to-equity ratio of 22.04, a quick ratio of 1.11 and a current ratio of 1.39. The stock has a market cap of C$260.46 million, a PE ratio of 6.30 and a beta of 2.07. The business’s 50 day moving average price is C$4.31 and its 200-day moving average price is C$4.36. STEP Energy Services has a 52 week low of C$3.35 and a 52 week high of C$5.26.

About STEP Energy Services

STEP Energy Services is an energy services company that provides coiled tubing, fluid and nitrogen pumping and hydraulic fracturing solutions. Our combination of modern equipment along with our commitment to safety and quality execution has differentiated STEP in plays where wells are deeper, have longer laterals and higher pressures.