Magellan Aerospace (TSE:MAL) Stock Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Magellan Aerospace's shares crossed above their 200-day moving average, trading at C$15.13, compared to the average of C$14.48.
• TD Securities has raised the price target for Magellan Aerospace from C$19.00 to C$20.00, maintaining a "buy" rating on the stock.
• The company also announced an increase in its quarterly dividend from $0.03 to $0.05, representing an annualized yield of 1.3% and a payout ratio of 28.61%.

Magellan Aerospace Co. (TSE:MAL - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$14.48 and traded as high as C$15.61. Magellan Aerospace shares last traded at C$15.13, with a volume of 35,784 shares changing hands.

Wall Street Analyst Weigh In

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

Magellan Aerospace Price Performance

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 has a market capitalization of C$861.96 million, a price-to-earnings ratio of 44.58, a P/E/G ratio of -21.36 and a beta of 1.11. The company's 50-day simple moving average is C$17.52 and its 200 day simple moving average is C$14.68.

Magellan Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 16th. This is a positive change from Magellan Aerospace's previous quarterly dividend of $0.03. This represents a $0.20 annualized dividend and a yield of 1.3%. Magellan Aerospace's dividend payout ratio (DPR) is currently 28.61%.

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.