Pinnacle Renewable (TSE:PL) Given New C$11.00 Price Target at CIBC

Pinnacle Renewable (TSE:PL) had its target price upped by CIBC from C$10.00 to C$11.00 in a report issued on Wednesday morning, BayStreet.CA reports.

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

PL traded up C$0.34 during trading on Wednesday, reaching C$10.77. 33,246 shares of the company’s stock were exchanged, compared to its average volume of 92,333. Pinnacle Renewable has a fifty-two week low of C$5.98 and a fifty-two week high of C$12.95. The company has a quick ratio of 0.59, a current ratio of 1.41 and a debt-to-equity ratio of 158.87. The business has a 50 day moving average price of C$9.55 and a 200 day moving average price of C$9.16. The company has a market capitalization of $343.75 million and a P/E ratio of 182.54.

Pinnacle Renewable (TSE:PL) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C($0.03) earnings per share for the quarter, topping the Zacks’ 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 forecast 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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Analyst Recommendations for Pinnacle Renewable (TSE:PL)

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