Boralex (TSE:BLX) Sets New 1-Year Low – Here’s What Happened

Boralex Inc. (TSE:BLX) reached a new 52-week low during trading on Friday . The stock traded as low as C$26.12 and last traded at C$26.12, with a volume of 46522 shares traded. The stock had previously closed at C$27.00.

Wall Street Analysts Forecast Growth

BLX has been the topic of several research analyst reports. CIBC lowered 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. BMO Capital Markets dropped their target price on Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boralex presently has an average rating of “Buy” and a consensus price target of C$43.13.

Boralex Trading Down 3.4 %

The stock has a fifty day moving average price of C$30.19 and a 200 day moving average price of C$32.74. The stock has a market cap of C$2.68 billion, a PE ratio of 28.05, a PEG ratio of 2.01 and a beta of 0.46. The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95.

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.