Boralex (TSE:BLX) Upgraded at Raymond James

Boralex (TSE:BLX) was upgraded by analysts at Raymond James to a “moderate buy” rating in a note issued to investors on Thursday,Zacks.com reports.

BLX has been the subject of a number of other reports. Cormark lowered their price target on Boralex from C$47.00 to C$35.00 in a research report on Thursday, January 30th. National Bankshares lowered their target price on shares of Boralex from C$46.00 to C$43.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Finally, Scotiabank cut their price target on shares of Boralex from C$42.00 to C$36.00 and set a “sector perform” rating on the stock in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$40.25.

Boralex Stock Performance

Shares of BLX opened at C$29.77 on Thursday. Boralex has a 52 week low of C$24.40 and a 52 week high of C$36.68. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. The stock has a 50 day moving average price of C$29.41 and a two-hundred day moving average price of C$28.95. The firm has a market capitalization of C$3.10 billion, a P/E ratio of 43.64, a P/E/G ratio of 2.01 and a beta of 0.46.

Insider Transactions at Boralex

In other news, Director Patrick Decostre sold 8,671 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of C$30.00, for a total transaction of C$260,130.00. Also, Director Ricky Fontaine purchased 1,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of C$29.10 per share, for a total transaction of C$29,100.00. Company insiders own 0.16% of the company’s stock.

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.