Stock Rating Downgrade
Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for Precision Drilling Corp (NYSE: PDS) weakened during the last several trading days. PDS’ current Value Trend Rating is C and the prior Rating was B. Details supporting this lower rating are included in our next report.
Recent Price Action
On 3/18/24, Precision Drilling Corp (NYSE: PDS) stock increased 1.3%, closing at $65.04. However, unusually low trading volume at 61% of normal accompanied the advance. The stock has performed in line with the market over the last nine months and has risen 4.5% during the last week.
Current PriceTarget Research Rating
PDS’ future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
Precision Drilling has a current Value Trend Rating of C (High Neutral). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Precision Drilling has a good Appreciation Score of 77 but a neutral Power Rating of 45, triggering the High Neutral Value Trend Rating.
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