Tidewater Renewables (TSE:LCFS) Reaches New 52-Week High – Should You Buy?

Tidewater Renewables Ltd. (TSE:LCFS) shares reached 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 changing hands. The stock had previously closed at C$21.13.

Analyst Ratings Changes

A number of research firms recently commented on LCFS. National Bank Financial lifted 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 note on Friday, August 14th. Royal Bank Of Canada upgraded shares of Tidewater Renewables from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$12.50 to C$25.00 in a research note on Friday, August 14th. Finally, ATB Cormark Capital Markets boosted their price objective on shares of 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 investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$22.25.

Tidewater Renewables Stock Performance

The company has a debt-to-equity ratio of 109.35, a quick ratio of 0.10 and a current ratio of 1.13. The firm’s 50 day simple moving average is C$18.10 and its 200 day simple moving average is C$12.87. The firm has a market capitalization of C$794.66 million, a price-to-earnings ratio of 94.05 and a beta of -0.59.

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 firm had revenue of C$160.60 million for the quarter. Sell-side analysts forecast 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.