WestJet Airlines Ltd. (WJA) Upgraded at Beacon Securities
Beacon Securities upgraded shares of WestJet Airlines Ltd. (TSE:WJA) from a hold rating to a buy rating in a report issued on Thursday morning. Beacon Securities currently has C$28.50 target price on the stock, up from their previous target price of C$22.50.
WJA has been the subject of a number of other research reports. Scotiabank set a C$25.00 price objective on WestJet Airlines and gave the company an outperform rating in a research note on Thursday, May 4th. TD Securities increased their price objective on WestJet Airlines from C$24.00 to C$27.00 and gave the company a hold rating in a research note on Thursday, May 4th. Royal Bank Of Canada increased their price objective on WestJet Airlines from C$27.00 to C$29.00 and gave the company an outperform rating in a research note on Wednesday, May 3rd. Raymond James Financial, Inc. dropped their price objective on WestJet Airlines from C$24.00 to C$23.50 and set a market perform rating for the company in a research note on Wednesday, May 3rd. Finally, National Bank Financial lowered WestJet Airlines from a sector perform market weight rating to an underperform market weight rating in a research note on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of C$24.42.
WestJet Airlines (TSE:WJA) opened at 24.93 on Thursday. The firm’s 50-day moving average is $22.69 and its 200 day moving average is $22.66. The company has a market cap of $2.92 billion and a price-to-earnings ratio of 11.60. WestJet Airlines has a 12-month low of $20.52 and a 12-month high of $25.88.
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The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 30th were issued a dividend of $0.14 per share. The ex-dividend date was Monday, June 12th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.25%.
In other news, Director Ron A. Brenneman acquired 5,000 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was acquired at an average price of C$21.85 per share, for a total transaction of C$109,250.00. Also, insider Robert Cummings sold 1,200 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of C$23.13, for a total value of C$27,756.00. In the last 90 days, insiders have purchased 30,000 shares of company stock valued at $669,050.
About WestJet Airlines
WestJet Airlines Ltd. is a Canada-based company, which provides airline service and travel packages. The Company operates WestJet Vacations, which provides air, hotel, car and excursion packages, and WestJet Encore, which is a regional airline that operates a fleet of turboprop aircraft in a network of destinations in Canada and the United States.
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