Maxim Group Thinks Profire Energy’s Stock is Going to Recover
Maxim Group analyst James Jang reiterated a Buy rating on Profire Energy (PFIE) today and set a price target of $5. The company’s shares closed yesterday at $1.76, close to its 52-week low of $1.36.
“We are expecting a slowdown in drilling activity through 2019 due to oil price pressure and re-spacing of wells to rectify the parent-child issues impacting production.”
According to TipRanks.com, Jang is a 3-star analyst with an average return of 3.3% and a 38.6% success rate. Jang covers the Services sector, focusing on stocks such as Sino-Global Shipping America, Eagle Bulk Shipping Inc, and Nordic American Tanker.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Profire Energy with a $5 average price target.
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Profire Energy’s market cap is currently $84.63M and has a P/E ratio of 12.88. The company has a Price to Book ratio of 1.86.
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Profire Energy, Inc. engages in the development of burner-management technologies used on a oilfield natural-draft fire tube vessels in oil and gas industry. It offers line-heaters, dehydrators, separators, treaters, amine reboilers, and free-water knockout systems which facilitate the proper function of the vessel.