Boralex (TSE:BLX) Reaches New 12-Month Low – Here’s What Happened

Shares of Boralex Inc. (TSE:BLX) hit a new 52-week low during mid-day trading on Friday . The company traded as low as C$26.12 and last traded at C$26.12, with a volume of 46522 shares changing hands. The stock had previously closed at C$27.00.

Analysts Set New Price Targets

BLX has been the topic of a number of analyst reports. BMO Capital Markets cut their price target on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. CIBC cut 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. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$43.13.

Boralex Price Performance

The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95. The business has a fifty day moving average of C$30.05 and a two-hundred day moving average of C$32.67. The firm has a market capitalization of C$2.72 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

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.