ATB Capital Lowers AKITA Drilling (TSE:AKT.A) Price Target to C$3.25

AKITA Drilling (TSE:AKT.A) had its price objective dropped by investment analysts at ATB Capital from C$3.75 to C$3.25 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Capital’s price target suggests a potential upside of 140.74% from the stock’s previous close.

AKITA Drilling Trading Up 2.3 %

AKT.A traded up C$0.03 during midday trading on Friday, hitting C$1.35. 19,170 shares of the company were exchanged, compared to its average volume of 32,025. The firm has a market capitalization of C$51.41 million, a P/E ratio of 4.66, a P/E/G ratio of -0.69 and a beta of 1.99. AKITA Drilling has a 1-year low of C$1.22 and a 1-year high of C$1.99. The firm’s 50 day moving average price is C$1.42 and its 200-day moving average price is C$1.47. The company has a quick ratio of 1.54, a current ratio of 2.48 and a debt-to-equity ratio of 44.24.

AKITA Drilling Company Profile

AKITA Drilling Ltd. provides provides contract drilling services in Canada and the United States. The company is involved in the drilling of oil and gas wells; other forms of drilling related to potash mining; and development of storage caverns. It specializes in pad and other purpose-built drilling rigs; and conventional, directional, horizontal, and underbalanced drilling, as well as provides specialized drilling services.