Pinnacle Renewable (TSE:PL) Price Target Raised to C$11.00

Pinnacle Renewable (TSE:PL) had its price objective lifted by CIBC from C$10.00 to C$11.00 in a research report released on Wednesday, BayStreet.CA reports.

Several other brokerages have also issued reports on PL. Royal Bank of Canada set a C$13.00 price objective on Pinnacle Renewable and gave the company an outperform rating in a research report on Wednesday, November 20th. BMO Capital Markets boosted their price objective on Pinnacle Renewable from C$9.00 to C$10.25 in a research report on Tuesday, December 24th. Finally, National Bank Financial reduced their price target on Pinnacle Renewable from C$15.50 to C$14.00 and set an outperform rating for the company in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of C$12.45.

Shares of PL traded up C$0.34 on Wednesday, hitting C$10.77. The company’s stock had a trading volume of 33,246 shares, compared to its average volume of 92,333. The company has a quick ratio of 0.59, a current ratio of 1.41 and a debt-to-equity ratio of 158.87. The firm’s fifty day moving average price is C$9.55 and its 200-day moving average price is C$9.16. Pinnacle Renewable has a fifty-two week low of C$5.98 and a fifty-two week high of C$12.95. The firm has a market capitalization of $343.75 million and a price-to-earnings ratio of 182.54.

Pinnacle Renewable (TSE:PL) last issued its quarterly earnings data on Tuesday, November 12th. The company reported C($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C($0.06) by C$0.03. The business had revenue of C$92.55 million during the quarter, compared to analyst estimates of C$99.90 million. As a group, equities analysts predict that Pinnacle Renewable will post 0.31 earnings per share for the current fiscal year.

Pinnacle Renewable Company Profile

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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