Boralex (TSE:BLX) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Boralex shares climbed above their 200-day moving average (200-day MA C$26.78), trading as high as C$27.33 and last at C$27.26 on volume of 434,200 shares.
• Analysts have trimmed price targets (recent cuts from CIBC, Scotiabank and RBC) but the consensus rating remains Buy with an average target of C$38.86; company fundamentals show a very high PE (454.33), elevated debt-to-equity (323.15), and a slim net margin (0.84%).

Boralex Inc. (TSE:BLX - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$26.78 and traded as high as C$27.33. Boralex shares last traded at C$27.26, with a volume of 434,200 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on BLX shares. Canadian Imperial Bank of Commerce reduced their price objective on shares of Boralex from C$37.00 to C$36.00 in a research report on Wednesday, January 21st. Scotiabank reduced their price target on shares of Boralex from C$41.00 to C$39.00 and set an "outperform" rating for the company in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada decreased their price target on shares of Boralex from C$38.00 to C$36.00 in a research note on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of C$38.86.

Boralex Price Performance

The stock's fifty day moving average price is C$26.48 and its 200-day moving average price is C$26.78. The firm has a market cap of C$2.80 billion, a PE ratio of 454.33, a price-to-earnings-growth ratio of 2.01 and a beta of 0.73. The company has a debt-to-equity ratio of 323.15, a current ratio of 1.29 and a quick ratio of 1.54.

Boralex (TSE:BLX - Get Free Report) last posted its quarterly earnings results on Friday, February 27th. The company reported C$0.13 earnings per share for the quarter. Boralex had a net margin of 0.84% and a return on equity of 0.45%. The firm had revenue of C$258.00 million for the quarter. As a group, equities analysts expect that Boralex Inc. will post 1.3383764 EPS for the current fiscal year.

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. The company generates the vast majority of its revenue from the sale of energy through long-term contracts to customers in Canada, France, and the United States.

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