ATB Capital Issues Positive Forecast for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its price target upped by investment analysts at ATB Capital from C$26.50 to C$28.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. ATB Capital’s target price would suggest a potential upside of 26.24% from the stock’s previous close.

Several other brokerages have also commented on AC. Raymond James decreased their price objective on shares of Air Canada from C$28.00 to C$22.00 and set an “outperform” rating for the company in a research report on Tuesday, July 23rd. National Bankshares lifted their price target on Air Canada from C$22.00 to C$27.00 in a research report on Monday. CIBC raised their price objective on Air Canada from C$25.00 to C$27.00 in a research note on Monday. BMO Capital Markets upped their target price on Air Canada from C$28.00 to C$29.00 in a research report on Monday. Finally, Jefferies Financial Group lifted their price objective on shares of Air Canada from C$16.00 to C$18.00 in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Air Canada has a consensus rating of “Moderate Buy” and an average price target of C$25.27.

Air Canada Stock Up 2.0 %

Shares of TSE AC opened at C$22.18 on Monday. The stock has a market capitalization of C$7.95 billion, a PE ratio of 4.95, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99. Air Canada has a 12-month low of C$14.47 and a 12-month high of C$22.25. The stock’s fifty day simple moving average is C$16.97 and its two-hundred day simple moving average is C$17.42.

Air Canada (TSE:AC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, beating the consensus estimate of C$0.85 by C$0.13. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. The firm had revenue of C$5.52 billion during the quarter, compared to analyst estimates of C$5.55 billion. As a group, analysts expect that Air Canada will post 2.5789474 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Senior Officer Christophe Hennebelle bought 1,900 shares of Air Canada stock in a transaction on Friday, August 9th. The stock was acquired at an average price of C$15.70 per share, with a total value of C$29,830.00. Insiders own 0.14% of the company’s stock.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names in the Canadian market, the Canada-U.S. transborder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.