Advantage Energy (TSE:AAV) Hits New 52-Week High After Strong Earnings

Advantage Energy Ltd. (TSE:AAV) (NYSE:AAV) shares hit a new 52-week high on Friday after the company announced better than expected quarterly earnings. The company traded as high as C$11.14 and last traded at C$10.76, with a volume of 127450 shares traded. The stock had previously closed at C$10.73.

The company reported C$0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.11 by C$0.03. The business had revenue of C$139.38 million for the quarter, compared to analysts’ expectations of C$132.00 million. Advantage Energy had a return on equity of 6.43% and a net margin of 19.94%.

Wall Street Analyst Weigh In

AAV has been the subject of several recent research reports. Scotiabank lifted their price target on Advantage Energy from C$16.00 to C$17.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 5th. BMO Capital Markets reissued an “outperform” rating and set a C$13.00 price objective on shares of Advantage Energy in a research note on Monday, April 8th. Royal Bank of Canada upped their target price on Advantage Energy from C$10.00 to C$11.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 5th. National Bankshares lifted their price target on Advantage Energy from C$12.00 to C$12.50 and gave the company an “outperform” rating in a research report on Friday, April 19th. Finally, Raymond James lowered their target price on shares of Advantage Energy from C$13.00 to C$11.00 and set an “outperform” rating on the stock in a research note on Friday, January 19th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$12.68.

Insider Buying and Selling at Advantage Energy

In other Advantage Energy news, Director John Larry Festival purchased 40,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was acquired at an average cost of C$9.95 per share, for a total transaction of C$398,000.00. Company insiders own 1.27% of the company’s stock.

Advantage Energy Stock Up 1.0 %

The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 22.74. The stock’s fifty day moving average is C$10.06 and its 200 day moving average is C$9.49. The company has a market capitalization of C$1.73 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of -3.58 and a beta of 1.65.

Advantage Energy Company Profile

Advantage Energy Ltd., together with its subsidiaries, engages in the acquisition, exploitation, development, and production natural gas, crude oil, and natural gas liquids (NGLs) in the Province of Alberta, Canada. Its assets are located approximately 4 to 80 km northwest of the city of Grande Prairie, Alberta.