ATB Cormark Capital Markets Raises Magellan Aerospace (TSE:MAL) Price Target to C$46.00

Magellan Aerospace (TSE:MAL) had its price objective lifted by equities researchers at ATB Cormark Capital Markets from C$31.00 to C$46.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target would indicate a potential upside of 44.61% from the company’s previous close.

Several other equities research analysts have also recently commented on MAL. TD boosted their price objective on shares of Magellan Aerospace from C$27.00 to C$30.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. TD Securities boosted their price objective on shares of 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. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Magellan Aerospace has an average rating of “Buy” and a consensus target price of C$33.67.

Magellan Aerospace Stock Down 2.7%

MAL traded down C$0.88 during trading on Tuesday, hitting C$31.81. The company had a trading volume of 58,450 shares, compared to its average volume of 46,011. The company has a market capitalization of C$1.82 billion, a PE ratio of 40.27, a PEG ratio of -21.36 and a beta of 0.76. Magellan Aerospace has a one year low of C$15.05 and a one year high of C$33.24. The firm’s 50-day moving average price is C$25.46 and its 200 day moving average price is C$21.99. 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 (TSE:MAL) last posted its quarterly earnings data on Monday, May 11th. The company reported C$0.29 EPS for the quarter. The business had revenue of C$285.10 million for the quarter. Magellan Aerospace had a net margin of 4.22% and a return on equity of 5.48%. As a group, equities analysts expect that Magellan Aerospace will post 0.9692308 earnings per share 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.