MAL.TO - Magellan Aerospace Corp

[alpha]

Magellan started selling off after reporting weaker than expected earnings during the last quarter. Weaker results were result of temporary unexpected timing of deliveries and supply disruptions, overall the project backlog and clients list still seem to be strong, with good balance sheet.

 

The aluminum tariffs, brexit, and uncertainty around American trade deals seem to have pushed it further lower but I haven't seen any explicit news/filings from the company about any specific policies affecting them yet.

 

I am not sure if the current market devaluation is appropriate. It seems to be trading below most industry average multiples and aerospace industry indexes.

 

Does anyone follow the aerospace industry and can share some insight into the recent selloff?