National Bank Financial Cuts Pinnacle Renewable (TSE:PL) Price Target to C$14.00

Pinnacle Renewable (TSE:PL) had its target price dropped by equities researchers at National Bank Financial from C$15.50 to C$14.00 in a research report issued on Thursday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s price target would indicate a potential upside of 75.88% from the company’s current price.

Several other analysts have also recently commented on the company. Royal Bank of Canada dropped their price target on Pinnacle Renewable from C$15.00 to C$13.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. CIBC dropped their price target on Pinnacle Renewable from C$11.00 to C$10.00 in a research report on Wednesday, October 23rd. Finally, GMP Securities boosted their price target on Pinnacle Renewable from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Pinnacle Renewable has an average rating of “Buy” and an average target price of C$13.00.

Shares of Pinnacle Renewable stock traded down C$0.06 on Thursday, reaching C$7.96. The company’s stock had a trading volume of 44,129 shares, compared to its average volume of 47,363. The company has a market capitalization of $254.75 million and a P/E ratio of 67.23. Pinnacle Renewable has a 52-week low of C$5.98 and a 52-week high of C$13.89. The stock has a 50-day moving average price of C$7.55 and a 200-day moving average price of C$9.64. The company has a quick ratio of 0.46, a current ratio of 1.35 and a debt-to-equity ratio of 182.22.

Pinnacle Renewable (TSE:PL) last posted its quarterly earnings data on Monday, August 12th. The company reported C$0.06 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.01 by C$0.05. The business had revenue of C$104.16 million during the quarter, compared to analysts’ expectations of C$99.80 million. Sell-side analysts forecast that Pinnacle Renewable will post 0.49 earnings per share for the current fiscal year.

About Pinnacle Renewable

Pinnacle Renewable Energy Inc, together with its subsidiaries, manufactures, distributes, and sells industrial wood pellets in North America, Asia, and Europe. The company produces renewable fuel for electricity generation in the form of industrial wood pellets, which are used by utilities and large-scale power generators to produce renewable and baseload power.

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Analyst Recommendations for Pinnacle Renewable (TSE:PL)

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