Piper Sandler Sticks to Their Buy Rating for Precision Drilling (PDS)

In a report released today, Derek Podhaizer from Piper Sandler maintained a Buy rating on Precision Drilling, with a price target of $74.00. The company’s shares closed yesterday at $55.37.

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According to TipRanks, Podhaizer is a 4-star analyst with an average return of 7.3% and a 56.44% success rate. Podhaizer covers the Energy sector, focusing on stocks such as Liberty Oilfield Services, Propetro Holding, and Precision Drilling.

Precision Drilling has an analyst consensus of Strong Buy, with a price target consensus of $78.06, a 40.98% upside from current levels. In a report released yesterday, CIBC also maintained a Buy rating on the stock with a C$110.00 price target.

Based on Precision Drilling’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $406.62 million and a net profit of $16.27 million. In comparison, last year the company earned a revenue of $429.21 million and had a net profit of $20.7 million

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PDS in relation to earlier this year.