Magellan Aerospace (TSE:MAL) Upgraded by ATB Cormark Capital Markets to “Moderate Buy” Rating

Magellan Aerospace (TSE:MAL) was upgraded by analysts at ATB Cormark Capital Markets to a “moderate buy” rating in a note issued to investors on Monday,Zacks.com reports.

Separately, TD Securities increased their price objective on shares of Magellan Aerospace from C$24.00 to C$25.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Magellan Aerospace presently has a consensus rating of “Buy” and a consensus target price of C$25.00.

Magellan Aerospace Trading Up 0.5%

Magellan Aerospace stock opened at C$24.08 on Monday. The firm’s 50-day moving average is C$22.07 and its 200-day moving average is C$19.45. The company has a debt-to-equity ratio of 10.77, a quick ratio of 1.55 and a current ratio of 2.75. Magellan Aerospace has a 1 year low of C$11.41 and a 1 year high of C$26.00. The company has a market cap of C$1.37 billion, a P/E ratio of 34.90, a PEG ratio of -21.36 and a beta of 0.76.

Magellan Aerospace (TSE:MAL) last posted its quarterly earnings results on Friday, March 27th. The company reported C$0.18 earnings per share (EPS) for the quarter. Magellan Aerospace had a net margin of 3.78% and a return on equity of 4.83%. The company had revenue of C$278.33 million for the quarter. On average, equities analysts expect that Magellan Aerospace will post 0.9692308 earnings per share for the current year.

About Magellan Aerospace

Magellan Aerospace Corp supplies components to the aerospace industry. It has two major product groups: aerostructures and aeroengines. Its engines and parts may be applied to new aircraft, or as replacement parts to existing platforms. The company also provides aftermarket support by conducting specific repairs and other maintenance services. It serves both commercial (approximately three-fourths of total sales) and defense markets. Additionally, parts and equipment may be provided for power generation projects, but sales do not constitute a material amount.