Boralex (TSE:BLX) Sets New 52-Week Low - What's Next?

Boralex Inc. (TSE:BLX - Get Free Report) reached a new 52-week low during 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.

Analysts Set New Price Targets

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

Boralex Stock Performance

The stock has a market cap of C$2.62 billion, a P/E ratio of 27.37, a PEG ratio of 2.01 and a beta of 0.46. The stock has a fifty day simple moving average of C$27.86 and a 200-day simple moving average of C$31.64. The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95.

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.