TD Increases Magellan Aerospace (TSE:MAL) Price Target to C$37.00

Magellan Aerospace (TSE:MAL) had its target price hoisted by TD from C$30.00 to C$37.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD’s price target would indicate a potential upside of 8.66% from the company’s current price.

A number of other research firms have also recently issued reports on MAL. ATB Cormark Capital Markets lifted their target price on Magellan Aerospace from C$31.00 to C$46.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. TD Securities lifted their price target on Magellan Aerospace from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Magellan Aerospace has an average rating of “Buy” and an average target price of C$36.00.

Magellan Aerospace Price Performance

Magellan Aerospace stock traded up C$2.09 during midday trading on Monday, reaching C$34.05. The company’s stock had a trading volume of 65,880 shares, compared to its average volume of 46,821. Magellan Aerospace has a 52 week low of C$15.05 and a 52 week high of C$34.30. The company has a current ratio of 2.51, a quick ratio of 1.55 and a debt-to-equity ratio of 11.46. The business has a 50-day moving average price of C$26.33 and a 200-day moving average price of C$22.41. The stock has a market cap of C$1.94 billion, a PE ratio of 43.10, a price-to-earnings-growth ratio of -21.36 and a beta of 1.01.

Magellan Aerospace (TSE:MAL) last released its earnings results on Monday, May 11th. The company reported C$0.29 earnings per share (EPS) for the quarter. Magellan Aerospace had a return on equity of 5.48% and a net margin of 4.22%.The firm had revenue of C$285.10 million for the quarter. On average, sell-side analysts predict that Magellan Aerospace will post 0.9692308 EPS for the current year.

About Magellan Aerospace

Magellan Aerospace is a global, integrated aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs, engineers, and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced products for military and space markets, industrial power generation, and specialty products. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe and India.