WestJet Airlines Ltd. (TSE:WJA) shares reached a new 52-week high during mid-day trading on Wednesday after Royal Bank of Canada raised their price target on the stock from C$20.00 to C$31.00. Royal Bank of Canada currently has a sector perform rating on the stock. WestJet Airlines traded as high as C$30.25 and last traded at C$30.25, with a volume of 2068882 shares traded. The stock had previously closed at C$29.89.
Several other brokerages also recently weighed in on WJA. Veritas Investment Research downgraded WestJet Airlines from a “buy” rating to a “sell” rating and lifted their target price for the company from C$22.00 to C$31.00 in a research note on Tuesday. BMO Capital Markets lifted their target price on WestJet Airlines from C$21.00 to C$31.00 in a research note on Tuesday. Cowen lifted their target price on WestJet Airlines from C$22.00 to C$31.00 in a research note on Tuesday. TD Securities downgraded WestJet Airlines from a “hold” rating to a “tender” rating and lifted their target price for the company from C$20.00 to C$31.00 in a research note on Tuesday. Finally, National Bank Financial downgraded WestJet Airlines from a “reduce” rating to a “tender” rating and lifted their target price for the company from C$22.00 to C$31.00 in a research note on Monday. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. WestJet Airlines currently has an average rating of “Hold” and an average price target of C$26.33.
The company has a market cap of $2.11 billion and a price-to-earnings ratio of 37.81. The company has a debt-to-equity ratio of 86.02, a current ratio of 0.78 and a quick ratio of 0.65.
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About WestJet Airlines (TSE:WJA)
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; WestJet Encore, a regional airline with a fleet of turboprop aircraft in a network of destinations in Canada and the United States; and Swoop, an ultra-low-cost carrier for air transportation.
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