Boralex (TSE:BLX) Hits New 1-Year Low – Should You Sell?

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

Analysts Set New Price Targets

Several brokerages have weighed in on BLX. BMO Capital Markets decreased their price objective on shares of Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. Cormark cut their price objective on shares of Boralex from C$47.00 to C$35.00 in a research report on Thursday, January 30th. Scotiabank cut their price objective on shares of Boralex from C$42.00 to C$36.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 30th. Finally, CIBC decreased their target price on shares of Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$40.88.

Boralex Stock Performance

The company has a debt-to-equity ratio of 175.24, a quick ratio of 1.54 and a current ratio of 0.95. The stock has a market capitalization of C$2.55 billion, a PE ratio of 26.66, a P/E/G ratio of 2.01 and a beta of 0.46. The firm has a 50 day moving average of C$28.13 and a 200-day moving average of C$31.78.

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.