Magellan Aerospace (TSE:MAL) Given New C$45.00 Price Target at TD

Magellan Aerospace (TSE:MAL) had its target price increased by analysts at TD from C$37.00 to C$45.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD’s target price indicates a potential upside of 5.39% from the stock’s previous close.

Separately, ATB Cormark Capital Markets increased their price target on Magellan Aerospace from C$31.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$38.67.

Magellan Aerospace Stock Performance

TSE MAL traded up C$0.83 during trading on Friday, reaching C$42.70. The company’s stock had a trading volume of 106,427 shares, compared to its average volume of 51,441. The firm has a 50 day moving average price of C$34.20 and a 200 day moving average price of C$27.78. Magellan Aerospace has a 12 month low of C$15.05 and a 12 month high of C$45.70. The firm has a market capitalization of C$2.44 billion, a price-to-earnings ratio of 54.05, a price-to-earnings-growth ratio of -21.36 and a beta of 1.06. The company has a current ratio of 2.51, a quick ratio of 1.55 and a debt-to-equity ratio of 11.46.

Magellan Aerospace (TSE:MAL) last announced its earnings results on Wednesday, August 12th. The company reported C$0.35 EPS for the quarter. Magellan Aerospace had a net margin of 4.22% and a return on equity of 5.48%. The company had revenue of C$305.58 million for the quarter. As a group, equities analysts anticipate that Magellan Aerospace will post 0.9692308 EPS for the current fiscal 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.