Magellan Aerospace (TSE:MAL) Stock Price Target Raised at TD

Magellan Aerospace (TSE:MAL) had its target price increased by analysts at TD from C$45.00 to C$46.00 in a research note issued on Wednesday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. TD‘s target price indicates a potential upside of 19.82% from the company’s previous close.

Magellan Aerospace Stock Up 12.2%

Shares of TSE MAL traded up C$4.17 during midday trading on Wednesday, hitting C$38.39. The company’s stock had a trading volume of 249,628 shares, compared to its average volume of 56,009. The business’s fifty day simple moving average is C$33.07 and its two-hundred day simple moving average is C$29.54. The company has a debt-to-equity ratio of 11.18, a current ratio of 2.52 and a quick ratio of 1.55. Magellan Aerospace has a 1 year low of C$15.98 and a 1 year high of C$45.70. The firm has a market capitalization of C$2.19 billion, a price-to-earnings ratio of 36.56, a price-to-earnings-growth ratio of -21.36 and a beta of 0.96.

Magellan Aerospace (TSE:MAL) last announced its earnings results on Wednesday, August 12th. The company reported C$0.35 earnings per share for the quarter. The firm had revenue of C$305.58 million for the quarter. Magellan Aerospace had a net margin of 5.30% and a return on equity of 7.11%. On average, equities analysts predict that Magellan Aerospace will post 0.97 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.