Pinnacle Renewable (TSE:PL) Upgraded to Outperform by National Bank Financial
National Bank Financial upgraded shares of Pinnacle Renewable (TSE:PL) from a sector perform rating to an outperform rating in a report released on Tuesday morning, BayStreet.CA reports. The brokerage currently has C$8.00 price objective on the stock. National Bank Financial also issued estimates for Pinnacle Renewable’s Q3 2020 earnings at $0.05 EPS, Q4 2020 earnings at $0.02 EPS, FY2020 earnings at ($0.09) EPS and FY2021 earnings at $0.39 EPS.
PL has been the topic of a number of other research reports. Desjardins lowered Pinnacle Renewable from a buy rating to a hold rating in a research report on Monday, May 11th. AltaCorp Capital reiterated an outperform rating on shares of Pinnacle Renewable in a research note on Monday, July 6th. Scotiabank upgraded shares of Pinnacle Renewable from a sector perform rating to an outperform rating in a research note on Friday, June 12th. Finally, Stifel Firstegy downgraded shares of Pinnacle Renewable from a buy rating to a hold rating in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Pinnacle Renewable has a consensus rating of Buy and an average target price of C$10.14.
Pinnacle Renewable stock opened at C$6.19 on Tuesday. Pinnacle Renewable has a twelve month low of C$3.63 and a twelve month high of C$11.51. The stock’s fifty day simple moving average is C$4.56 and its 200-day simple moving average is C$6.19. The company has a current ratio of 1.36, a quick ratio of 0.60 and a debt-to-equity ratio of 188.94. The firm has a market capitalization of $157.13 million and a P/E ratio of -15.91.
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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