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

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

A number of other research analysts have also issued reports on the stock. TD increased their target price on shares of Magellan Aerospace from C$27.00 to C$30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. 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 report on Tuesday, March 31st. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$33.67.

Magellan Aerospace Stock Performance

MAL traded down C$0.88 on Tuesday, reaching C$31.81. The company had a trading volume of 58,450 shares, compared to its average volume of 46,011. Magellan Aerospace has a fifty-two week low of C$15.05 and a fifty-two week high of C$33.24. The stock has a market cap of C$1.82 billion, a P/E ratio of 40.27, a P/E/G ratio of -21.36 and a beta of 0.76. The company’s fifty day moving average is C$25.46 and its 200 day moving average is C$21.99. The company has a debt-to-equity ratio of 11.46, a quick ratio of 1.55 and a current ratio of 2.51.

Magellan Aerospace (TSE:MAL) last announced its quarterly earnings results on Monday, May 11th. The company reported C$0.29 EPS for the quarter. Magellan Aerospace had a net margin of 4.22% and a return on equity of 5.48%. The business had revenue of C$285.10 million for the quarter. As a group, analysts predict that Magellan Aerospace will post 0.9692308 earnings per share 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.