Advantage Energy (TSE:AAV) Sets New 52-Week High on Better-Than-Expected Earnings

Advantage Energy Ltd. (TSE:AAV) (NYSE:AAV)’s share price hit a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as C$11.14 and last traded at C$10.76, with a volume of 127450 shares trading hands. The stock had previously closed at C$10.73.

The company reported C$0.14 earnings per share for the quarter, beating the consensus estimate of C$0.11 by C$0.03. The business had revenue of C$139.38 million for the quarter, compared to analyst estimates of C$132.00 million. Advantage Energy had a net margin of 19.94% and a return on equity of 6.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Desjardins lowered their target price on shares of Advantage Energy from C$13.25 to C$13.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Royal Bank of Canada lifted their target price on Advantage Energy from C$10.00 to C$11.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 5th. BMO Capital Markets reissued an “outperform” rating and issued a C$13.00 target price on shares of Advantage Energy in a research note on Monday, April 8th. National Bankshares raised their price target on Advantage Energy from C$12.00 to C$12.50 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Finally, Scotiabank boosted their price objective on Advantage Energy from C$16.00 to C$17.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$12.68.

Insider Transactions at Advantage Energy

In other Advantage Energy news, Director John Larry Festival purchased 40,000 shares of the stock in a transaction on Tuesday, March 19th. The shares were purchased at an average cost of C$9.95 per share, for a total transaction of C$398,000.00. 1.27% of the stock is currently owned by insiders.

Advantage Energy Stock Performance

The stock has a market capitalization of C$1.73 billion, a P/E ratio of 18.37, a P/E/G ratio of -3.58 and a beta of 1.65. The stock has a 50 day simple moving average of C$10.06 and a two-hundred day simple moving average of C$9.49. The company has a quick ratio of 0.72, a current ratio of 1.25 and a debt-to-equity ratio of 22.74.

Advantage Energy Company Profile

Advantage Energy Ltd., together with its subsidiaries, engages in the acquisition, exploitation, development, and production natural gas, crude oil, and natural gas liquids (NGLs) in the Province of Alberta, Canada. Its assets are located approximately 4 to 80 km northwest of the city of Grande Prairie, Alberta.