TD Increases Magellan Aerospace (TSE:MAL) Price Target to C$37.00

Magellan Aerospace (TSE:MAL) had its target price increased by equities researchers at TD from C$30.00 to C$37.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD’s price objective indicates a potential upside of 8.66% from the stock’s current price.

Several other equities analysts have also commented on MAL. TD Securities increased their price objective on Magellan Aerospace from C$24.00 to C$25.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. ATB Cormark Capital Markets increased their price objective on 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, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$36.00.

Magellan Aerospace Stock Performance

MAL stock traded up C$2.09 during midday trading on Monday, hitting C$34.05. The company’s stock had a trading volume of 65,880 shares, compared to its average volume of 46,821. The stock’s 50-day moving average price is C$26.33 and its 200 day moving average price is C$22.41. The company has a quick ratio of 1.55, a current ratio of 2.51 and a debt-to-equity ratio of 11.46. Magellan Aerospace has a 1 year low of C$15.05 and a 1 year high of C$34.30. The stock has a market cap of C$1.94 billion, a price-to-earnings ratio of 43.10, a PEG ratio of -21.36 and a beta of 1.01.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings results on Monday, May 11th. The company reported C$0.29 EPS for the quarter. Magellan Aerospace had a return on equity of 5.48% and a net margin of 4.22%.The firm had revenue of C$285.10 million for the quarter. On average, equities analysts forecast that Magellan Aerospace will post 0.9692308 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.