ATB Capital Boosts Pinnacle Renewable (TSE:PL) Price Target to C$8.00

Pinnacle Renewable (TSE:PL) had its price target boosted by ATB Capital from C$7.00 to C$8.00 in a report published on Monday, BayStreet.CA reports.

Several other equities analysts have also weighed in on the stock. Scotiabank increased their price target on shares of Pinnacle Renewable from C$7.50 to C$8.00 in a research report on Thursday, September 3rd. AltaCorp Capital reiterated an outperform rating on shares of Pinnacle Renewable in a research report on Monday, July 6th. Stifel Firstegy upgraded shares of Pinnacle Renewable from a hold rating to a buy rating in a research report on Tuesday, August 11th. Finally, National Bank Financial upgraded shares of Pinnacle Renewable from a sector perform rating to an outperform rating and set a C$8.00 target price for the company in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Pinnacle Renewable presently has an average rating of Buy and a consensus target price of C$9.36.

PL opened at C$6.05 on Monday. The firm has a market cap of $201.83 million and a P/E ratio of -13.12. The firm has a 50-day moving average of C$6.09 and a 200 day moving average of C$5.38. The company has a debt-to-equity ratio of 192.79, a quick ratio of 0.71 and a current ratio of 1.27. Pinnacle Renewable has a fifty-two week low of C$3.63 and a fifty-two week high of C$11.49.

The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Thursday, August 20th were issued a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Wednesday, August 19th. Pinnacle Renewable’s payout ratio is -105.75%.

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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