Pinnacle Renewable (TSE:PL) Price Target Raised to C$11.00

Pinnacle Renewable (TSE:PL) had its price objective lifted by stock analysts at CIBC from C$10.00 to C$11.00 in a research report issued on Wednesday, BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 4.46% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets lifted their price target on shares of Pinnacle Renewable from C$9.00 to C$10.25 in a research report on Tuesday, December 24th. National Bank Financial lowered their price target on shares of Pinnacle Renewable from C$15.50 to C$14.00 and set an “outperform” rating for the company in a research report on Thursday, November 14th. Finally, Royal Bank of Canada set a C$13.00 price target on shares of Pinnacle Renewable and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of C$12.45.

Shares of TSE:PL traded up C$0.08 during trading on Wednesday, hitting C$10.53. 38,020 shares of the company’s stock were exchanged, compared to its average volume of 94,983. Pinnacle Renewable has a 1-year low of C$5.98 and a 1-year high of C$12.95. The firm has a 50-day moving average price of C$9.51 and a two-hundred day moving average price of C$9.15. The company has a current ratio of 1.41, a quick ratio of 0.59 and a debt-to-equity ratio of 158.87. The firm has a market cap of $343.75 million and a P/E ratio of 178.47.

Pinnacle Renewable (TSE:PL) last issued its quarterly earnings results on Tuesday, November 12th. The company reported C($0.03) EPS for the quarter, topping the consensus estimate of C($0.06) by C$0.03. The business had revenue of C$92.55 million for the quarter, compared to analyst estimates of C$99.90 million. As a group, research analysts predict that Pinnacle Renewable will post 0.31 EPS for the current year.

About Pinnacle Renewable

Pinnacle Renewable Energy Inc, together with its subsidiaries, manufactures, distributes, and sells industrial wood pellets in North America, Asia, and Europe. The company produces renewable fuel for electricity generation in the form of industrial wood pellets, which are used by utilities and large-scale power generators to produce renewable and baseload power.

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