TD Issues Positive Forecast for Magellan Aerospace (TSE:MAL) Stock Price

Magellan Aerospace (TSE:MAL) had its target price upped by stock analysts at TD from C$27.00 to C$30.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD’s price target would suggest a potential upside of 20.29% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. TD Securities increased their target price on shares of Magellan Aerospace from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. ATB Cormark Capital Markets raised shares of Magellan Aerospace to a “moderate buy” rating in a research note on Monday, April 6th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, Magellan Aerospace currently has a consensus rating of “Buy” and an average price target of C$27.50.

Magellan Aerospace Stock Performance

TSE:MAL traded down C$0.39 during mid-day trading on Tuesday, hitting C$24.94. The company’s stock had a trading volume of 57,071 shares, compared to its average volume of 41,410. Magellan Aerospace has a 1 year low of C$14.85 and a 1 year high of C$27.84. The company has a debt-to-equity ratio of 10.77, a current ratio of 2.75 and a quick ratio of 1.55. The stock has a market cap of C$1.42 billion, a price-to-earnings ratio of 36.14, a PEG ratio of -21.36 and a beta of 0.76. The business’s fifty day moving average is C$24.07 and its two-hundred day moving average is C$20.81.

Magellan Aerospace (TSE:MAL) last posted its earnings results on Monday, May 11th. The company reported C$0.29 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 business had revenue of C$285.10 million for the quarter. 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.