Zacks Investment Research Upgrades Cathay Pacific Airways (OTCMKTS:CPCAY) to Buy

Zacks Investment Research upgraded shares of Cathay Pacific Airways (OTCMKTS:CPCAY) from a hold rating to a buy rating in a report published on Friday morning, reports. Zacks Investment Research currently has $4.75 price objective on the transportation company’s stock.

According to Zacks, “CATHAY PACIFIC AIRWAY’s principal activity is the operation of an international airline based and registered in Hong Kong. Other activities include airline catering, aircraft handling and engineering. The Group offers scheduled passenger and cargo services to 62 destinations around the world. It operates in Hong Kong, Mainland China, Japan, Korea, Taiwan, South East Asia, Middle East, Europe, Pacific and South Africa. “

Shares of Cathay Pacific Airways stock opened at $4.17 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.59 and a current ratio of 0.59. Cathay Pacific Airways has a 52-week low of $3.25 and a 52-week high of $5.22. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -2.39 and a beta of 0.96. The company’s 50 day moving average price is $4.10 and its 200-day moving average price is $4.36.

About Cathay Pacific Airways

Cathay Pacific Airways Limited, together with its subsidiaries, operates as a carrier of international passengers and air cargo. The company conducts airline operations principally to and from Hong Kong. It also provides property investment, travel reward program, travel tour operator, financial, aircraft leasing and acquisition facilitation, airline catering, information processing, aircraft ramp handling, laundry and dry cleaning, ground handling, aircraft engineering, cargo carriage, airport ground engineering support and equipment maintenance, and inventory technical management services.

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