Tidewater Renewables (TSE:LCFS) Sets New 52-Week High – Time to Buy?

Tidewater Renewables Ltd. (TSE:LCFS) hit a new 52-week high during trading on Thursday. The stock traded as high as C$25.80 and last traded at C$24.79, with a volume of 25,865 shares traded. The stock had previously closed at C$25.06.

Analysts Set New Price Targets

A number of research firms have commented on LCFS. Royal Bank Of Canada upgraded shares of Tidewater Renewables from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$12.50 to C$25.00 in a research note on Friday, August 14th. National Bank Financial upped their price objective on shares of Tidewater Renewables from C$13.25 to C$22.75 and gave the company an “outperform” rating in a research note on Friday, August 14th. Finally, ATB Cormark Capital Markets lifted their price target on Tidewater Renewables from C$16.00 to C$19.00 and gave the company a “speculative buy” rating in a report on Friday, August 14th. Three research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$22.25.

Tidewater Renewables Stock Down 2.5%

The stock has a 50-day simple moving average of C$20.77 and a two-hundred day simple moving average of C$14.95. The company has a quick ratio of 0.10, a current ratio of 1.13 and a debt-to-equity ratio of 109.35. The firm has a market cap of C$841.42 million, a PE ratio of 94.05 and a beta of -1.03.

Tidewater Renewables (TSE:LCFS) last released its quarterly earnings data on Thursday, August 13th. The company reported C$0.13 earnings per share for the quarter. Tidewater Renewables had a net margin of 0.09% and a return on equity of 0.20%. The business had revenue of C$160.60 million during the quarter. Analysts expect that Tidewater Renewables Ltd. will post 0.15 earnings per share for the current year.

Tidewater Renewables Company Profile

Tidewater Renewables is a multi-faceted, energy transition company. The Corporation is focused on the production of low carbon fuels, including renewable diesel and sustainable aviation fuel. The Corporation was created in response to the growing demand for renewable fuels in North America and to capitalize on its potential to efficiently turn a wide variety of renewable feedstocks (such as canola oil, soybean oil, used cooking oil, distillers corn oil, tallow, and other biomasses) into low carbon fuels.