Precision Drilling (TSE:PD) Hits New 1-Year Low – Should You Sell?

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as C$76.50 and last traded at C$79.09, with a volume of 57998 shares traded. The stock had previously closed at C$80.35.

Analysts Set New Price Targets

PD has been the topic of a number of recent analyst reports. TD Securities downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$120.00 to C$100.00 in a report on Monday, February 3rd. ATB Capital upped their target price on shares of Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$126.43.

Precision Drilling Price Performance

The firm’s 50-day moving average price is C$87.20 and its 200-day moving average price is C$89.40. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37. The stock has a market capitalization of C$1.14 billion, a PE ratio of 5.04, a PEG ratio of -3.24 and a beta of 2.76.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.