WestJet Airlines (WJA) Cut to Sell at Veritas Investment Research

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WestJet Airlines (TSE:WJA) was downgraded by equities researchers at Veritas Investment Research from a “buy” rating to a “sell” rating in a research note issued on Tuesday, BayStreet.CA reports. They presently have a C$31.00 price objective on the stock, up from their prior price objective of C$22.00. Veritas Investment Research’s target price suggests a potential upside of 2.48% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. BMO Capital Markets lifted their price objective on shares of WestJet Airlines from C$21.00 to C$31.00 in a research report on Tuesday. Cowen lifted their price objective on shares of WestJet Airlines from C$22.00 to C$31.00 in a research report on Tuesday. TD Securities cut shares of WestJet Airlines from a “hold” rating to a “tender” rating and lifted their price objective for the stock from C$20.00 to C$31.00 in a research report on Tuesday. National Bank Financial cut shares of WestJet Airlines from a “reduce” rating to a “tender” rating and lifted their price objective for the stock from C$22.00 to C$31.00 in a research report on Monday. Finally, Raymond James reduced their price objective on shares of WestJet Airlines from C$20.25 to C$20.00 and set a “market perform” rating for the company in a research report on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The company has an average rating of “Hold” and an average target price of C$26.33.

WJA stock opened at C$30.25 on Tuesday. The company has a debt-to-equity ratio of 127.88, a current ratio of 0.74 and a quick ratio of 0.63. WestJet Airlines has a one year low of C$16.71 and a one year high of C$30.25. The firm has a market cap of $2.11 billion and a price-to-earnings ratio of 33.65.

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; 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.

Further Reading: Oversold

Analyst Recommendations for WestJet Airlines (TSE:WJA)

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