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

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

Analyst Upgrades and Downgrades

BLX has been the subject of a number of recent analyst reports. CIBC reduced their target price 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. 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. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$43.13.

Boralex Stock Up 2.1 %

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 company has a fifty day moving average price of C$28.86 and a 200 day moving average price of C$32.22. The company 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.

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.