Strad Energy Services (TSE: SDY) was downgraded by equities researchers at Stonecap Securities from an “outperform” rating to a “sector perform” rating in a report issued on Friday. They currently have a $3.50 target price on the stock, down from their previous target price of $4.50.
Strad Energy Services traded up 4.30% on Friday, hitting $3.15. Strad Energy Services has a 52-week low of $3.00 and a 52-week high of $5.75. The stock’s 50-day moving average is currently $3.59.
Several other analysts have also recently commented on the stock. Analysts at Global Hunter Securities downgraded shares of Strad Energy Services from a “buy” rating to an “accumulate” rating in a research note to investors on Friday. They now have a $4.00 price target on the stock, down previously from $5.00. Separately, analysts at Paradigm Capital cut their price target on shares of Strad Energy Services from $5.50 to $4.75 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Raymond James downgraded shares of Strad Energy Services from an “outperform” rating to a “market perform” rating in a research note to investors on Friday. They now have a $3.30 price target on the stock, down previously from $5.00.
Strad Energy Services Ltd. focuses on providing drilling rental equipment and production services to the oil and natural gas industry in the Western Canada Sedimentary Basin (WCSB) and throughout the United States.
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