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 research report issued on Wednesday,BayStreet.CA reports. They currently have a C$5.00 price objective on the stock, down from their prior price objective of C$5.50. Raymond James’ price target would suggest a potential upside of 37.36% from the stock’s current price.

Several other research firms have also issued reports on STEP. ATB Capital decreased their price target on shares of STEP Energy Services from C$5.50 to C$5.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Cormark upgraded STEP Energy Services from a “tender” rating to a “buy” rating and boosted their price target for the company from C$5.00 to C$5.50 in a research note on Monday, January 6th.

STEP Energy Services Stock Performance

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

STEP Energy Services Company Profile

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.