Trinidad Drilling (TDG) Price Target Cut to C$1.68

Trinidad Drilling (TSE:TDG) had its price target cut by CIBC from C$1.75 to C$1.68 in a research note released on Wednesday morning.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity raised shares of Trinidad Drilling from a hold rating to a buy rating and reduced their price target for the company from C$2.10 to C$2.00 in a report on Wednesday, August 8th. National Bank Financial reduced their price target on shares of Trinidad Drilling from C$2.60 to C$2.20 and set a sector perform rating for the company in a report on Thursday, August 2nd. GMP Securities downgraded shares of Trinidad Drilling from a buy rating to a hold rating and reduced their price target for the company from C$2.50 to C$2.00 in a report on Thursday, August 9th. Raymond James downgraded shares of Trinidad Drilling from an outperform rating to a market perform rating and reduced their price target for the company from C$2.25 to C$1.68 in a report on Wednesday, October 24th. Finally, BMO Capital Markets reduced their price target on shares of Trinidad Drilling from C$3.00 to C$2.00 in a report on Thursday, August 9th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of C$1.89.

Shares of TDG opened at C$1.68 on Wednesday. Trinidad Drilling has a 1 year low of C$1.33 and a 1 year high of C$2.11. The company has a debt-to-equity ratio of 63.50, a quick ratio of 1.70 and a current ratio of 2.02.

In related news, insider Ensign Energy Services Inc. acquired 1,500,000 shares of Trinidad Drilling stock in a transaction that occurred on Tuesday, November 27th. The stock was acquired at an average price of C$1.68 per share, with a total value of C$2,520,000.00.

Trinidad Drilling Company Profile

Trinidad Drilling Ltd. designs, builds, and operates drilling rigs for complex wells primarily in Canada, the United States, and internationally. It provides land drilling services. The company operates 70 rigs in Canada; and 69 rigs in the United States and internationally. It also engages in construction and insurance businesses; and provides rig technology and labor services.

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