Royal Bank of Canada Boosts WestJet Airlines (WJA) Price Target to C$20.00

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WestJet Airlines (TSE:WJA) had its target price increased by analysts at Royal Bank of Canada from C$19.00 to C$20.00 in a research note issued on Monday. Royal Bank of Canada’s target price would indicate a potential upside of 12.74% from the stock’s current price.

A number of other research firms have also recently commented on WJA. National Bank Financial reduced their price objective on WestJet Airlines from C$18.50 to C$17.50 and set an “outperform” rating for the company in a research report on Friday. Canaccord Genuity reduced their price objective on WestJet Airlines from C$22.00 to C$20.00 in a research report on Thursday. CIBC upped their price objective on WestJet Airlines from C$16.00 to C$20.00 and gave the company an “average” rating in a research report on Wednesday, December 5th. AltaCorp Capital upgraded WestJet Airlines from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, December 5th. Finally, BMO Capital Markets reduced their price objective on WestJet Airlines from C$20.00 to C$19.00 and set a “market perform” rating for the company in a research report on Wednesday, October 31st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of C$20.64.

Shares of TSE:WJA traded up C$0.21 during midday trading on Monday, reaching C$17.74. 227,005 shares of the company’s stock traded hands, compared to its average volume of 275,998. The company has a quick ratio of 0.65, a current ratio of 0.78 and a debt-to-equity ratio of 87.39. WestJet Airlines has a one year low of C$16.71 and a one year high of C$26.72.

WestJet Airlines (TSE:WJA) last announced its quarterly earnings results on Tuesday, October 30th. The company reported C$0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.35 by C$0.05. The business had revenue of C$1.26 billion for the quarter, compared to the consensus estimate of C$1.27 billion. On average, analysts forecast that WestJet Airlines will post 1.32000000301198 EPS for the current year.

In other news, Director Colleen Johnston acquired 30,000 shares of WestJet Airlines stock in a transaction that occurred on Friday, November 2nd. The stock was bought at an average price of C$18.75 per share, for a total transaction of C$562,500.00.

About WestJet Airlines

WestJet Airlines Ltd. provides scheduled airline services and travel packages. The company offers scheduled flights, as well as cargo and charter services. It also operates WestJet Vacations that provides air, hotel, car, and excursion packages, as well as WestJet Encore, a regional airline with a fleet of turboprop aircraft in a network of destinations in Canada and the United States.

See Also: Fundamental Analysis

Analyst Recommendations for WestJet Airlines (TSE:WJA)

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