Royal Bank of Canada Forecasts Strong Price Appreciation for Advantage Energy (TSE:AAV) Stock

Advantage Energy (TSE:AAV) (NYSE:AAV) had its price target raised by analysts at Royal Bank of Canada to C$11.00 in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. The firm currently has a “hold” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 30.64% from the stock’s previous close.

Several other brokerages also recently issued reports on AAV. BMO Capital Markets increased their price target on shares of Advantage Energy from C$12.00 to C$13.00 in a report on Tuesday, January 14th. National Bankshares raised Advantage Energy from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$11.50 to C$15.00 in a research report on Thursday, January 30th. CIBC raised their price target on shares of Advantage Energy from C$11.00 to C$11.50 in a report on Friday, January 17th. Cormark upgraded shares of Advantage Energy to a “moderate buy” rating in a report on Thursday, March 6th. Finally, National Bank Financial upgraded shares of Advantage Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 20th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Advantage Energy currently has an average rating of “Moderate Buy” and a consensus target price of C$13.50.

Advantage Energy Stock Performance

TSE AAV opened at C$8.42 on Wednesday. The company has a 50-day simple moving average of C$9.68 and a two-hundred day simple moving average of C$9.41. Advantage Energy has a 12-month low of C$7.81 and a 12-month high of C$11.73. The firm has a market cap of C$1.40 billion, a price-to-earnings ratio of 30.66, a PEG ratio of -3.58 and a beta of 1.46. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 41.40.

Insiders Place Their Bets

In other Advantage Energy news, Senior Officer Geoffrey Keyser bought 3,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was bought at an average price of C$9.10 per share, for a total transaction of C$27,300.00. Also, Director Daniel Stuart Farb acquired 32,500 shares of Advantage Energy stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average cost of C$8.36 per share, for a total transaction of C$271,849.50. Insiders acquired a total of 57,500 shares of company stock worth $500,070 over the last 90 days. Corporate insiders own 1.55% of the company’s stock.

About Advantage Energy

Advantage Energy Ltd supplies clean, affordable, reliable, and sustainable Canadian energy to power the needs of Canada and the world. It is focused on the development and delineation of its Montney natural gas and liquids resource at Glacier, Wembley/Pipestone, Valhalla, and Progress, Alberta.