TD Securities Forecasts Strong Price Appreciation for Magellan Aerospace (TSE:MAL) Stock

Magellan Aerospace (TSE:MAL) had its target price raised by stock analysts at TD Securities from C$18.00 to C$19.00 in a note issued to investors on Monday,BayStreet.CA reports. TD Securities’ price objective would suggest a potential upside of 73.52% from the company’s current price.

Magellan Aerospace Stock Performance

Magellan Aerospace stock traded up C$0.25 during trading on Monday, hitting C$10.95. The stock had a trading volume of 21,879 shares, compared to its average volume of 9,412. The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 11.81. The stock’s 50 day moving average is C$9.95 and its two-hundred day moving average is C$10.02. Magellan Aerospace has a 1 year low of C$7.77 and a 1 year high of C$11.05. The stock has a market cap of C$605.80 million, a price-to-earnings ratio of 31.33, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Company Profile

Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.