Pinnacle Renewable Holdings Inc (TSE:PL) Given Consensus Rating of “Buy” by Analysts

Shares of Pinnacle Renewable Holdings Inc (TSE:PL) have earned a consensus rating of “Buy” from the ten research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$9.36.

PL has been the topic of a number of recent analyst reports. Stifel Firstegy raised shares of Pinnacle Renewable from a “hold” rating to a “buy” rating in a research report on Tuesday, August 11th. National Bank Financial raised shares of Pinnacle Renewable from a “sector perform” rating to an “outperform” rating and set a C$8.00 target price on the stock in a research report on Tuesday, August 11th. ATB Capital increased their target price on shares of Pinnacle Renewable from C$7.00 to C$8.00 in a research report on Monday. Scotiabank increased their target price on shares of Pinnacle Renewable from C$7.50 to C$8.00 in a research report on Thursday, September 3rd. Finally, AltaCorp Capital reissued an “outperform” rating on shares of Pinnacle Renewable in a research report on Monday, July 6th.

Pinnacle Renewable stock traded up C$0.05 during mid-day trading on Thursday, reaching C$6.30. 22,554 shares of the company’s stock were exchanged, compared to its average volume of 97,772. The company has a market cap of $208.50 million and a P/E ratio of -13.56. Pinnacle Renewable has a twelve month low of C$3.63 and a twelve month high of C$11.49. The company has a quick ratio of 0.71, a current ratio of 1.27 and a debt-to-equity ratio of 192.79. The company has a fifty day moving average of C$6.00 and a 200-day moving average of C$5.42.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Thursday, August 20th were given a dividend of $0.038 per share. This represents a $0.15 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Wednesday, August 19th. Pinnacle Renewable’s payout ratio is currently -105.75%.

Pinnacle Renewable Company Profile

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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Analyst Recommendations for Pinnacle Renewable (TSE:PL)

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