Boralex (TSE:BLX) Reaches New 52-Week Low – What’s Next?

Shares of Boralex Inc. (TSE:BLX) reached a new 52-week low during 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. The stock had previously closed at C$27.00.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BLX shares. BMO Capital Markets decreased their price target on shares of Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. CIBC decreased their target price on shares of Boralex from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a research note on Wednesday. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$43.13.

Boralex Stock Down 1.9 %

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 stock’s fifty day simple moving average is C$30.05 and its two-hundred day simple moving average is C$32.67. The stock has a market capitalization of C$2.72 billion, a P/E ratio of 28.47, 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.