Innergex Renewable Energy (TSE:INE) Given New C$16.00 Price Target at National Bankshares

Innergex Renewable Energy (TSE:INE) had its price target dropped by equities research analysts at National Bankshares from C$17.00 to C$16.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ price objective suggests a potential upside of 126.95% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Scotiabank dropped their price objective on Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. Cormark lowered their price target on Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. Finally, CIBC lowered their price target on Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$11.83.

Innergex Renewable Energy Price Performance

Innergex Renewable Energy stock traded down C$0.07 on Tuesday, reaching C$7.05. The company’s stock had a trading volume of 200,321 shares, compared to its average volume of 602,813. The company has a debt-to-equity ratio of 428.86, a quick ratio of 0.58 and a current ratio of 0.57. The company has a market cap of C$1.43 billion, a price-to-earnings ratio of -10.85, a PEG ratio of 20.61 and a beta of 0.36. The business’s fifty day moving average price is C$7.96 and its 200 day moving average price is C$8.93. Innergex Renewable Energy has a twelve month low of C$6.98 and a twelve month high of C$10.96.

About Innergex Renewable Energy

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.