Boralex (TSE:BLX) Sets New 1-Year Low – Time to Sell?

Boralex Inc. (TSE:BLX) shares hit a new 52-week low on Tuesday . The company traded as low as C$24.40 and last traded at C$24.84, with a volume of 26285 shares trading hands. The stock had previously closed at C$24.53.

Wall Street Analyst Weigh In

BLX has been the topic of several recent analyst reports. Cormark decreased their price objective on shares of Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th. BMO Capital Markets decreased 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 Boralex from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Finally, Scotiabank reduced their target price on shares of Boralex from C$42.00 to C$36.00 and set a “sector perform” rating on the stock in a report on Thursday, January 30th. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Boralex presently has a consensus rating of “Buy” and a consensus price target of C$40.88.

Boralex Trading Up 1.1 %

The business has a 50 day moving average of C$28.13 and a 200-day moving average of C$31.78. The stock has a market cap of C$2.55 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24.

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.