RBC Capital Keeps Their Hold Rating on ShawCor

By Ryan Adsit

Wall Street analyst has provided a rating update for the Consumer Goods sector company yesterday, while remaining neutral on the stock. ShawCor (TSX: SCL) received a Hold rating from RBC Capital’s analyst Kurt Hallead, with a C$38 price target.

According to TipRanks.com, Hallead is a 4-star analyst with an average return of 3.2% and a 42.9% success rate. Hallead covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Energy Transfer Partners LP, and Diamond Offshore Drilling.

ShawCor has an analyst consensus of Moderate Buy, with a price target consensus of C$42.50.

The company has a one year high of C$39.95 and a one year low of C$27.53. Currently, ShawCor has an average volume of 154.9K.

ShawCor Ltd. engages in the provision of products and services for the pipeline and pipe services of the oil and gas industry and related products for petrochemical and industrial markets. It offers pipe coating services, flexible composite pipe, onshore and offshore pipeline corrosion and thermal protection, ultrasonic and radiographic inspection services, tubular management services, heat-shrinkable polymer tubing, and control, and instrumentation wire and cable. It operates through the Pipeline and Pipe Services and Petrochemical and Industrial segments. The Pipeline and Pipe Services segment includes the Bredero Shaw, Canusa-CPS, Shaw Pipeline Services, Flexpipe Systems, Guardian, and Desert NDT divisions. The Petrochemical and Industrial segment consists of the Connection Systems division, which comprises of the DSG-Canusa and ShawFlex. The company was founded on August 23, 1968 and is headquartered in Toronto, Canada.

The company’s shares closed last Friday at $27.92, close to its 52-week low of $27.53.