WestJet Airlines Ltd. (WJA) Downgraded by Macquarie
WestJet Airlines Ltd. (TSE:WJA) was downgraded by research analysts at Macquarie from a “neutral” rating to an “underperform” rating in a research note issued on Monday. They presently have a C$24.00 price objective on the stock, down from their previous price objective of C$25.00. Macquarie’s target price suggests a potential downside of 6.94% from the stock’s previous close.
WJA has been the subject of several other reports. TD Securities boosted their target price on shares of WestJet Airlines from C$24.00 to C$27.00 and gave the company a “hold” rating in a research report on Thursday, May 4th. Scotiabank set a C$25.00 target price on shares of WestJet Airlines and gave the company an “outperform” rating in a research report on Thursday, May 4th. Royal Bank Of Canada boosted their target price on shares of WestJet Airlines from C$27.00 to C$29.00 and gave the company an “outperform” rating in a research report on Wednesday, May 3rd. BMO Capital Markets restated a “market perform” rating and issued a C$25.00 target price on shares of WestJet Airlines in a research report on Monday, June 26th. Finally, Raymond James Financial, Inc. dropped their target price on shares of WestJet Airlines from C$24.00 to C$23.50 and set a “market perform” rating for the company in a research report on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of C$24.42.
WestJet Airlines (WJA) traded down 3.33% during mid-day trading on Monday, hitting $24.93. 410,624 shares of the stock traded hands. The firm has a market cap of $2.92 billion and a P/E ratio of 11.60. WestJet Airlines has a 52 week low of $20.52 and a 52 week high of $25.88. The firm’s 50-day moving average price is $22.69 and its 200-day moving average price is $22.66.
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In other WestJet Airlines news, insider Robert Cummings sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of C$23.13, for a total transaction of C$27,756.00. Also, Director Ron A. Brenneman bought 5,000 shares of WestJet Airlines stock in a transaction on Wednesday, June 14th. The shares were acquired at an average cost of C$22.50 per share, for a total transaction of C$112,500.00. Insiders have acquired a total of 30,000 shares of company stock worth $669,050 over the last three months.
WestJet Airlines Company Profile
WestJet Airlines Ltd. is a Canada-based company, which provides airline service and travel packages. The Company operates WestJet Vacations, which provides air, hotel, car and excursion packages, and WestJet Encore, which is a regional airline that operates a fleet of turboprop aircraft in a network of destinations in Canada and the United States.
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