Boralex Inc. (TSE:BLX - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$29.32 and traded as high as C$33.03. Boralex shares last traded at C$32.61, with a volume of 238,263 shares changing hands.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on BLX shares. BMO Capital Markets decreased their target price on shares of Boralex from C$42.00 to C$39.00 in a research report on Thursday, May 22nd. Scotiabank cut shares of Boralex from an "outperform" rating to a "sector perform" rating and set a C$36.00 price objective for the company. in a research note on Friday, July 18th. National Bank Financial upgraded shares of Boralex to a "strong-buy" rating in a research report on Sunday, June 8th. TD Securities lifted their price target on shares of Boralex from C$35.00 to C$38.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Finally, Desjardins set a C$45.00 price target on Boralex and gave the stock a "top pick" rating in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of C$39.22.
Read Our Latest Report on BLX
Boralex Price Performance
The firm's fifty day simple moving average is C$31.81 and its 200-day simple moving average is C$29.44. The company has a market cap of C$3.29 billion, a PE ratio of 46.31, a P/E/G ratio of 2.01 and a beta of 0.46. The company has a quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60.
Boralex Company Profile
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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.
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