Boralex (TSE:BLX) Sets New 52-Week Low – Here’s What Happened

Boralex Inc. (TSE:BLX) reached a new 52-week low on Wednesday . The company traded as low as C$25.74 and last traded at C$25.81, with a volume of 30862 shares trading hands. The stock had previously closed at C$26.18.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BLX shares. BMO Capital Markets cut their price objective on Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. CIBC cut their target price on Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$43.13.

Boralex Stock Up 2.1 %

The firm has a market capitalization of C$2.69 billion, a PE ratio of 28.16, a PEG ratio of 2.01 and a beta of 0.46. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24. The stock has a 50 day simple moving average of C$28.86 and a 200 day simple moving average of C$32.22.

Boralex Company Profile

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power.