Magellan Aerospace (TSE:MAL) Stock Price Expected to Rise, TD Analyst Says

Magellan Aerospace (TSE:MAL) had its price target upped by TD from C$45.00 to C$46.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The firm presently has a “buy” rating on the stock. TD‘s target price would indicate a potential upside of 19.82% from the stock’s previous close.

Magellan Aerospace Stock Up 12.2%

Magellan Aerospace stock traded up C$4.17 during trading on Wednesday, reaching C$38.39. The stock had a trading volume of 249,628 shares, compared to its average volume of 56,009. Magellan Aerospace has a 52-week low of C$15.98 and a 52-week high of C$45.70. The business has a 50 day moving average price of C$33.07 and a 200 day moving average price of C$29.54. The company has a quick ratio of 1.55, a current ratio of 2.52 and a debt-to-equity ratio of 11.18. The stock has a market cap of C$2.19 billion, a PE ratio of 36.56, a P/E/G ratio of -21.36 and a beta of 0.96.

Magellan Aerospace (TSE:MAL) last announced 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 5.30% and a return on equity of 7.11%. The company had revenue of C$305.58 million for the quarter. On average, analysts predict that Magellan Aerospace will post 0.97 EPS for the current year.

Magellan Aerospace Company Profile

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.