TD Boosts Magellan Aerospace (TSE:MAL) Price Target to C$45.00

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

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

Magellan Aerospace Stock Performance

TSE:MAL traded up C$0.83 on Friday, hitting C$42.70. The company’s stock had a trading volume of 106,427 shares, compared to its average volume of 51,441. Magellan Aerospace has a one year low of C$15.05 and a one year high of C$45.70. The firm has a market capitalization of C$2.44 billion, a P/E ratio of 54.05, a price-to-earnings-growth ratio of -21.36 and a beta of 1.06. The stock has a fifty day moving average of C$34.20 and a two-hundred day moving average of C$27.78. 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 released its quarterly earnings data 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 firm had revenue of C$305.58 million during the quarter. Research analysts predict that Magellan Aerospace will post 0.9692308 earnings per share 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.