Tidewater Renewables (TSE:LCFS) Upgraded to “Outperform” at Royal Bank Of Canada

Tidewater Renewables (TSE:LCFS) was upgraded by Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a C$25.00 price objective on the stock, up from their prior price objective of C$12.50. Royal Bank Of Canada’s price objective suggests a potential upside of 22.49% from the stock’s previous close.

Several other research analysts have also weighed in on the company. ATB Cormark Capital Markets lifted their price objective on Tidewater Renewables from C$8.00 to C$12.00 and gave the stock a “speculative buy” rating in a research report on Friday, May 8th. National Bank Financial upped their target price on Tidewater Renewables from C$8.00 to C$13.25 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$22.25.

Tidewater Renewables Trading Up 5.3%

Shares of LCFS traded up C$1.02 during trading hours on Friday, hitting C$20.41. 20,311 shares of the stock were exchanged, compared to its average volume of 20,807. Tidewater Renewables has a fifty-two week low of C$2.71 and a fifty-two week high of C$20.64. The company has a debt-to-equity ratio of 120.55, a current ratio of 1.13 and a quick ratio of 0.10. The business has a 50-day moving average of C$13.98 and a 200-day moving average of C$9.94. The firm has a market capitalization of C$745.45 million, a P/E ratio of 92.77 and a beta of -0.43.

Tidewater Renewables (TSE:LCFS) last released its earnings results on Thursday, August 13th. The company reported C$0.13 earnings per share (EPS) for the quarter. The business had revenue of C$160.60 million for the quarter. Tidewater Renewables had a net margin of 2.91% and a return on equity of 5.00%. On average, research analysts expect that Tidewater Renewables will post 0.15 EPS for the current year.

About Tidewater Renewables

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.