WestJet Airlines (WJA) Downgraded by JPMorgan Chase & Co.
WestJet Airlines (TSE:WJA) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued on Wednesday, BayStreet.CA reports. They currently have a C$31.00 target price on the stock, up from their previous target price of C$20.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 3.33% from the company’s previous close.
Other equities research analysts have also recently issued reports about the stock. Morgan Stanley reiterated an “underweight” rating and set a C$18.00 price objective on shares of WestJet Airlines in a research report on Friday, April 5th. National Bank Financial raised shares of WestJet Airlines from an “underperform” rating to a “sector perform” rating and raised their price target for the company from C$19.50 to C$22.50 in a research report on Thursday, April 11th. CIBC raised their price target on shares of WestJet Airlines from C$20.00 to C$22.00 in a research report on Wednesday, February 6th. TD Securities lifted their price objective on shares of WestJet Airlines from C$22.00 to C$24.00 and gave the stock a “hold” rating in a research report on Wednesday, February 6th. Finally, Cormark reaffirmed a “market perform” rating and issued a C$21.00 price objective on shares of WestJet Airlines in a research report on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of C$26.33.
TSE:WJA traded up C$0.11 on Wednesday, hitting C$30.00. The company had a trading volume of 1,753,656 shares, compared to its average volume of 497,052. The company has a market cap of $2.11 billion and a price-to-earnings ratio of 37.50. The company has a debt-to-equity ratio of 86.02, a current ratio of 0.78 and a quick ratio of 0.65. WestJet Airlines has a 52 week low of C$16.71 and a 52 week high of C$30.24.
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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