TD Securities Cuts Magellan Aerospace (TSE:MAL) Price Target to C$10.50

Magellan Aerospace (TSE:MALGet Rating) had its price objective dropped by research analysts at TD Securities from C$11.00 to C$10.50 in a research note issued on Thursday, BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD Securities’ price objective indicates a potential upside of 25.60% from the company’s current price.

TSE:MAL traded up C$0.01 on Thursday, hitting C$8.36. 902 shares of the company’s stock traded hands, compared to its average volume of 13,173. The company has a current ratio of 3.60, a quick ratio of 1.97 and a debt-to-equity ratio of 8.85. Magellan Aerospace has a 1 year low of C$8.11 and a 1 year high of C$10.99. The firm has a 50-day moving average price of C$9.70 and a 200-day moving average price of C$9.90. The company has a market cap of C$482.61 million and a PE ratio of -418.00.

Magellan Aerospace (TSE:MALGet Rating) last announced its quarterly earnings results on Tuesday, March 22nd. The company reported C($0.10) EPS for the quarter. The company had revenue of C$178.01 million during the quarter. On average, research analysts forecast that Magellan Aerospace will post 0.9400001 EPS for the current fiscal year.

Magellan Aerospace Company Profile (Get Rating)

Magellan Aerospace Corporation, through its subsidiaries, designs, engineers, manufactures, and sells aero engine, and aero structure assemblies and components for the aerospace markets in Canada, the United States, Europe, and Asia. It offers aero engine products, such as engine frames, compressor and fan cases, turbine cases, shafts, rotor spools, discs and blisks, and gearbox housings; and combustion liners and cases, exhaust frames and systems, engine bypass ducts and frames, acoustically treated exhaust systems, and fan cowl doors, as well as repair and overhaul services.

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