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

Tidewater Renewables Ltd. (TSE:LCFS) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$21.49 and last traded at C$21.20, with a volume of 3773 shares trading hands. The stock had previously closed at C$21.13.

Analyst Ratings Changes

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

Tidewater Renewables Stock Up 1.0%

The stock’s 50-day moving average is C$17.80 and its 200-day moving average is C$12.65. The stock has a market cap of C$779.68 million, a P/E ratio of 94.05 and a beta of -0.59. The company has a current ratio of 1.13, a quick ratio of 0.10 and a debt-to-equity ratio of 109.35.

Tidewater Renewables (TSE:LCFS) last released its quarterly earnings results on Thursday, August 13th. The company reported C$0.13 EPS for the quarter. The company had revenue of C$160.60 million for the quarter. Tidewater Renewables had a net margin of 0.09% and a return on equity of 0.20%. As a group, research analysts anticipate that Tidewater Renewables Ltd. will post 0.15 earnings per share for the current fiscal 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.