Magellan Aerospace (TSE:MAL) Raised to “Moderate Buy” at ATB Cormark Capital Markets

Magellan Aerospace (TSE:MAL) was upgraded by stock analysts at ATB Cormark Capital Markets to a “moderate buy” rating in a report issued on Monday,Zacks.com reports.

Separately, TD Securities boosted their price objective on Magellan Aerospace from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$25.00.

Magellan Aerospace Price Performance

Shares of TSE:MAL opened at C$24.08 on Monday. The company’s 50-day moving average is C$22.07 and its 200 day moving average is C$19.45. The company has a debt-to-equity ratio of 10.77, a quick ratio of 1.55 and a current ratio of 2.75. The company has a market capitalization of C$1.37 billion, a P/E ratio of 34.90, a price-to-earnings-growth ratio of -21.36 and a beta of 0.76. Magellan Aerospace has a fifty-two week low of C$11.41 and a fifty-two week high of C$26.00.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings results on Friday, March 27th. The company reported C$0.18 earnings per share for the quarter. The company had revenue of C$278.33 million for the quarter. Magellan Aerospace had a net margin of 3.78% and a return on equity of 4.83%. On average, equities research analysts forecast that Magellan Aerospace will post 0.9692308 earnings per share for the current year.

Magellan Aerospace Company Profile

Magellan Aerospace Corp supplies components to the aerospace industry. It has two major product groups: aerostructures and aeroengines. Its engines and parts may be applied to new aircraft, or as replacement parts to existing platforms. The company also provides aftermarket support by conducting specific repairs and other maintenance services. It serves both commercial (approximately three-fourths of total sales) and defense markets. Additionally, parts and equipment may be provided for power generation projects, but sales do not constitute a material amount.