Boralex (TSE:BLX) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Boralex Inc. (TSE:BLX)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$28.68 and traded as high as C$36.86. Boralex shares last traded at C$36.77, with a volume of 392,506 shares traded.

Analysts Set New Price Targets

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

Boralex Stock Performance

The company has a debt-to-equity ratio of 323.15, a current ratio of 1.29 and a quick ratio of 1.54. The company’s fifty day simple moving average is C$33.22 and its two-hundred day simple moving average is C$28.68. The stock has a market cap of C$3.78 billion, a price-to-earnings ratio of 612.83, a P/E/G ratio of 2.01 and a beta of 0.26.

Boralex (TSE:BLX) last released its quarterly earnings data on Friday, February 27th. The company reported C$0.13 earnings per share for the quarter. Boralex had a net margin of 0.84% and a return on equity of 0.45%. The firm had revenue of C$258.00 million for the quarter. On average, analysts forecast that Boralex Inc. will post 1.3383764 earnings per share for the current 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.