Boralex Inc. (TSE:BLX) Receives Average Rating of “Buy” from Analysts

Shares of Boralex Inc. (TSE:BLX) have been given a consensus recommendation of “Buy” by the five research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$39.38.

BLX has been the subject of a number of research analyst reports. National Bankshares lowered their target price on Boralex from C$43.00 to C$42.00 and set an “outperform” rating for the company in a research note on Thursday, May 22nd. BMO Capital Markets reduced their price objective on Boralex from C$42.00 to C$39.00 in a research report on Thursday, May 22nd. Finally, Raymond James raised Boralex to a “moderate buy” rating in a research report on Thursday, May 15th.

Boralex Price Performance

Shares of TSE BLX opened at C$31.81 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60. The firm has a market capitalization of C$3.31 billion, a P/E ratio of 46.64, a P/E/G ratio of 2.01 and a beta of 0.46. The stock’s 50-day simple moving average is C$30.08 and its two-hundred day simple moving average is C$28.80. Boralex has a twelve month low of C$24.40 and a twelve month high of C$36.63.

About Boralex

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.