Pason Systems (TSE:PSI) Given New C$16.00 Price Target at Royal Bank of Canada

Pason Systems (TSE:PSI) had its target price reduced by analysts at Royal Bank of Canada from C$18.00 to C$16.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 42.48% from the stock’s previous close.

PSI has been the subject of a number of other reports. National Bankshares reduced their price target on shares of Pason Systems from C$20.00 to C$19.50 and set a “sector perform” rating for the company in a report on Thursday, December 19th. TD Securities cut their price objective on Pason Systems from C$16.00 to C$13.00 and set a “buy” rating for the company in a report on Wednesday.

Pason Systems Price Performance

Shares of PSI traded up C$0.24 during mid-day trading on Thursday, hitting C$11.23. The company’s stock had a trading volume of 44,255 shares, compared to its average volume of 150,991. The stock has a market capitalization of C$893.94 million, a price-to-earnings ratio of 7.93, a PEG ratio of 10.78 and a beta of 1.58. Pason Systems has a fifty-two week low of C$10.43 and a fifty-two week high of C$18.59. The firm has a 50-day moving average price of C$12.61 and a 200 day moving average price of C$13.52. The company has a debt-to-equity ratio of 3.19, a current ratio of 2.59 and a quick ratio of 3.54.

Pason Systems Company Profile

Pason Systems Inc, together with its subsidiaries, provides instrumentation and data management systems for drilling rigs in Canada, the United States, and internationally. The company provides Electronic Drilling Recorder, which provides real-time drilling data to rig site personnel; DataHub with Pason Live, which is used as the central repository for data and reports captured at the rigs for real-time; and DataLink that provides automated in-house databases, third-party analytics platforms, remote geosteering, and other remote services.