Boralex (TSE:BLX) Stock Passes Above 200 Day Moving Average – What’s Next?

Boralex Inc. (TSE:BLX)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$27.22 and traded as high as C$36.60. Boralex shares last traded at C$36.60, with a volume of 1,393,044 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BLX shares. TD Securities lowered Boralex from a “buy” rating to a “sell” rating and increased their price objective for the company from C$32.00 to C$37.25 in a report on Thursday, March 26th. National Bank Financial set a C$39.00 target price on Boralex and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. Scotiabank lowered their price target on Boralex from C$41.00 to C$39.00 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. Finally, Canadian Imperial Bank of Commerce dropped their price target on shares of Boralex from C$37.00 to C$36.00 in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$38.46.

Boralex Trading Up 0.1%

The company has a market capitalization of C$3.76 billion, a price-to-earnings ratio of 610.00, a P/E/G ratio of 2.01 and a beta of 0.73. The company has a 50-day moving average price of C$28.50 and a 200-day moving average price of C$27.22. The company has a quick ratio of 1.54, a current ratio of 1.29 and a debt-to-equity ratio of 323.15.

Boralex (TSE:BLX) last posted its quarterly earnings data on Friday, February 27th. The company reported C$0.13 earnings per share for the quarter. Boralex had a return on equity of 0.45% and a net margin of 0.84%.The business had revenue of C$258.00 million during the quarter. Research analysts predict 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.