In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Pason Systems (TSX: PSI). CIBC’s analyst Jon Morrison reiterates their Hold rating on the shares, with a C$22 price target.
According to TipRanks.com, Morrison ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -16.2% and a 32.3% success rate. Morrison covers the Basic Materials sector, focusing on stocks such as Trican Well Service Ltd, Imperial Oil Limited, and Cenovus Energy Inc.
Read also: Direxion Daily Jr Gld Mnrs (JNUG): Gold Stocks Recovering
The word on The Street in general, suggests a Hold analyst consensus rating for Pason Systems with a C$23.25 average price target.
Pason Systems’ market cap is currently C$1.72B and has a P/E ratio of 59.1. The company has a Price to Book ratio of 4.78.
Pason Systems, Inc. engages in the design and production of instrumentation and data management systems for drilling rigs. Its products include automatic driller, choke control, electronic drilling recorder, enhanced pit volume totalizer, gas analyzer, hazardous gas alarm system, rig communications, rig display, directional system, drilling guidance system, live rig view (LRV), LRV mobile, tour sheet analytics, WellView field solution, SideKick remote display, abbl Directional Express, and DataHub web-based data management system. It operates through the following geographical segments: Canada, the United States, and International. The company was founded by Ron Mason and Wayne Parks on February 3, 1978 and is headquartered in Calgary, Canada.
The company’s shares closed on Tuesday at C$20.43.
