Magellan Aerospace (TSE:MAL) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Magellan Aerospace shares recently surpassed their 200-day moving average of C$14.99, trading as high as C$16.50.
• TD Securities raised their price target for the stock from C$19.00 to C$20.00, maintaining a "buy" rating.
• The company has increased its quarterly dividend to $0.05 per share, up from $0.03, representing a yield of 1.2%.

Magellan Aerospace Co. (TSE:MAL - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$14.99 and traded as high as C$16.50. Magellan Aerospace shares last traded at C$16.37, with a volume of 23,820 shares traded.

Analysts Set New Price Targets

Separately, TD Securities boosted their price objective on shares of Magellan Aerospace from C$19.00 to C$20.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of C$20.00.

Magellan Aerospace Stock Up 1.7%

The company has a market capitalization of C$935.37 million, a price-to-earnings ratio of 24.80, a PEG ratio of -21.36 and a beta of -0.14. The stock's fifty day simple moving average is C$17.06 and its two-hundred day simple moving average is C$14.99. The company has a debt-to-equity ratio of 11.81, a current ratio of 2.58 and a quick ratio of 1.55.

Magellan Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were given a $0.05 dividend. This is a positive change from Magellan Aerospace's previous quarterly dividend of $0.03. The ex-dividend date was Monday, June 16th. This represents a $0.20 annualized dividend and a yield of 1.2%. Magellan Aerospace's payout ratio is currently 18.94%.

About Magellan Aerospace

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.

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