Boralex (TSE:BLX) Shares Cross Above 200-Day Moving Average – Time to Sell?

Boralex Inc. (TSE:BLX)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$26.71 and traded as high as C$28.81. Boralex shares last traded at C$28.79, with a volume of 519,394 shares traded.

Wall Street Analysts Forecast Growth

BLX has been the subject of several recent research reports. Canadian Imperial Bank of Commerce lowered their price target on shares of Boralex from C$37.00 to C$36.00 in a research note on Wednesday, January 21st. Scotiabank reduced their price objective on Boralex from C$41.00 to C$39.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$38.86.

Boralex Trading Up 4.0%

The company has a debt-to-equity ratio of 323.15, a quick ratio of 1.54 and a current ratio of 1.29. The stock has a market capitalization of C$2.96 billion, a P/E ratio of 479.83, a price-to-earnings-growth ratio of 2.01 and a beta of 0.73. The stock has a 50-day moving average price of C$26.70 and a two-hundred day moving average price of C$26.71.

Boralex (TSE:BLX) last announced its earnings results on Friday, February 27th. The company reported C$0.13 EPS for the quarter. The company had revenue of C$258.00 million during the quarter. Boralex had a return on equity of 0.45% and a net margin of 0.84%. On average, research analysts forecast that Boralex Inc. will post 1.3383764 EPS for the current fiscal year.

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. 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.