Boralex (TSE:BLX) Reaches New 52-Week Low – Here’s Why

Boralex Inc. (TSE:BLX) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$24.40 and last traded at C$24.84, with a volume of 26285 shares changing hands. The stock had previously closed at C$24.53.

Analyst Ratings Changes

A number of research analysts have issued reports on BLX shares. Cormark decreased their target price on shares of Boralex from C$47.00 to C$35.00 in a research report on Thursday, January 30th. BMO Capital Markets lowered their price objective on Boralex from C$46.00 to C$45.00 in a research note on Friday, November 15th. CIBC dropped their price objective on Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Finally, Scotiabank reduced their target price on Boralex from C$42.00 to C$36.00 and set a “sector perform” rating on the stock in a report on Thursday, January 30th. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$40.88.

Boralex Trading Up 4.4 %

The firm has a market capitalization of C$2.64 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 2.01 and a beta of 0.46. The firm’s 50-day moving average is C$27.95 and its 200 day moving average is C$31.68. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24.

About Boralex

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.