Boralex Inc. (TSE:BLX) Given Average Recommendation of “Buy” by Brokerages

Boralex Inc. (TSE:BLX) has received an average rating of “Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$43.13.

A number of research analysts have weighed in on the stock. BMO Capital Markets cut their target price on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. CIBC decreased 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.

Boralex Trading Up 2.1 %

TSE:BLX opened at C$26.19 on Friday. The stock has a market cap of C$2.69 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The company has a debt-to-equity ratio of 175.24, a current ratio of 0.95 and a quick ratio of 1.54. The stock’s 50-day moving average is C$28.86 and its two-hundred day moving average is C$32.22. Boralex has a fifty-two week low of C$25.55 and a fifty-two week high of C$36.68.

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.