WestJet Airlines Ltd. (WJA) Cut to Underperform at 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 to investors on Monday, July 17th. They currently have a C$24.00 price target on the stock, down from their previous price target of C$25.00. Macquarie’s target price indicates a potential downside of 6.98% from the stock’s previous close.

WJA has been the topic of several other reports. TD Securities upped their target price on 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 WestJet Airlines and gave the company an “outperform” rating in a research report on Thursday, May 4th. Royal Bank Of Canada increased their price objective on WestJet Airlines from C$27.00 to C$29.00 and gave the company an “outperform” rating in a report on Wednesday, May 3rd. BMO Capital Markets reissued a “market perform” rating and issued a C$25.00 price objective on shares of WestJet Airlines in a report on Monday, June 26th. Finally, Raymond James Financial, Inc. cut their price objective on WestJet Airlines from C$24.00 to C$23.50 and set a “market perform” rating on the stock in a report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of C$25.63.

Shares of WestJet Airlines (TSE WJA) traded up 0.47% during mid-day trading on Monday, reaching $25.80. 327,804 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $24.59 and its 200 day moving average price is $23.02. WestJet Airlines has a 52-week low of $20.52 and a 52-week high of $26.25. The company has a market cap of $3.02 billion and a PE ratio of 11.42.

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In other news, Director Ron A. Brenneman bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average price of C$22.00 per share, for a total transaction of C$110,000.00. Also, insider Marshall Wilmot sold 3,368 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of C$25.33, for a total value of C$85,311.44. Insiders have acquired 20,000 shares of company stock worth $443,750 in the last quarter.

About WestJet Airlines

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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