Innergex Renewable Energy (TSE:INE – Get Free Report) had its target price lowered by equities research analysts at Desjardins from C$14.00 to C$13.00 in a report issued on Tuesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target would suggest a potential upside of 58.15% from the stock’s previous close.
A number of other equities analysts have also weighed in on the company. National Bankshares upped their target price on Innergex Renewable Energy from C$15.75 to C$17.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. CIBC increased their price target on Innergex Renewable Energy from C$9.00 to C$9.50 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. TD Securities cut their price target on Innergex Renewable Energy from C$12.00 to C$10.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. BMO Capital Markets cut their target price on Innergex Renewable Energy from C$10.00 to C$9.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada cut their target price on Innergex Renewable Energy from C$13.00 to C$11.00 and set a “sector perform” rating for the company in a research note on Monday, February 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$12.47.
Read Our Latest Analysis on INE
Innergex Renewable Energy Price Performance
Innergex Renewable Energy (TSE:INE – Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The company reported C($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($0.04) by C$0.01. Innergex Renewable Energy had a negative return on equity of 7.86% and a negative net margin of 9.45%. The firm had revenue of C$261.53 million for the quarter, compared to analysts’ expectations of C$264.85 million. On average, equities analysts predict that Innergex Renewable Energy will post 0.0799919 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Daniel Lafrance bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average price of C$8.35 per share, for a total transaction of C$41,750.00. In related news, Director Daniel Lafrance acquired 5,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was purchased at an average price of C$8.35 per share, for a total transaction of C$41,750.00. Also, Senior Officer Jean Trudel acquired 13,000 shares of the stock in a transaction on Monday, February 26th. The stock was bought at an average price of C$7.68 per share, with a total value of C$99,840.00. Insiders bought 22,125 shares of company stock worth $174,975 in the last quarter. 20.41% of the stock is owned by insiders.
About Innergex Renewable Energy
Innergex Renewable Energy Inc operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.
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