Desjardins Boosts Innergex Renewable Energy (TSE:INE) Price Target to C$14.50

Innergex Renewable Energy (TSE:INEGet Free Report) had its target price increased by research analysts at Desjardins from C$14.00 to C$14.50 in a research report issued on Monday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ target price indicates a potential upside of 60.04% from the company’s previous close.

A number of other research firms also recently issued reports on INE. TD Securities lowered their target price on Innergex Renewable Energy from C$15.00 to C$12.00 and set a “buy” rating on the stock in a research report on Wednesday, October 18th. CIBC lowered their price target on Innergex Renewable Energy from C$13.50 to C$13.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 9th. BMO Capital Markets lowered their price target on Innergex Renewable Energy from C$17.50 to C$14.00 and set an “outperform” rating on the stock in a research report on Thursday, November 9th. Royal Bank of Canada lowered their price target on Innergex Renewable Energy from C$16.00 to C$13.00 and set a “sector perform” rating on the stock in a research report on Friday, November 10th. Finally, Raymond James lowered their price target on Innergex Renewable Energy from C$21.50 to C$15.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Innergex Renewable Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of C$15.03.

View Our Latest Stock Report on INE

Innergex Renewable Energy Price Performance

TSE:INE opened at C$9.06 on Monday. The company has a debt-to-equity ratio of 440.26, a quick ratio of 0.58 and a current ratio of 0.96. The stock’s 50-day simple moving average is C$9.20 and its 200 day simple moving average is C$10.53. The company has a market cap of C$1.85 billion, a P/E ratio of -53.29, a P/E/G ratio of 20.61 and a beta of 0.45. Innergex Renewable Energy has a 52-week low of C$8.51 and a 52-week high of C$16.25.

Innergex Renewable Energy (TSE:INEGet Free Report) last released its earnings results on Wednesday, November 8th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.06 by C($0.03). The company had revenue of C$277.06 million during the quarter, compared to analyst estimates of C$261.30 million. Innergex Renewable Energy had a negative net margin of 3.19% and a negative return on equity of 2.39%. As a group, sell-side analysts forecast that Innergex Renewable Energy will post 0.2196463 EPS for the current fiscal year.

Insider Transactions at Innergex Renewable Energy

In other news, Director Richard Gagnon acquired 3,320 shares of Innergex Renewable Energy stock in a transaction dated Monday, November 13th. The stock was bought at an average price of C$9.02 per share, for a total transaction of C$29,947.06. Corporate insiders own 24.03% of the company’s stock.

About Innergex Renewable Energy

(Get Free Report)

Innergex Renewable Energy Inc operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.

Further Reading

Analyst Recommendations for Innergex Renewable Energy (TSE:INE)

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