Air Canada (TSE:AC) Rating Increased to Strong-Buy at Stifel Canada

Stifel Canada upgraded shares of Air Canada (TSE:AC) from a hold rating to a strong-buy rating in a research report released on Sunday, Zacks.com reports.

AC has been the topic of a number of other reports. Scotiabank increased their price objective on shares of Air Canada from C$24.00 to C$26.50 in a research note on Monday. TD Securities dropped their target price on Air Canada from C$25.00 to C$19.00 in a research report on Wednesday, July 24th. ATB Capital lifted their price target on Air Canada from C$26.50 to C$28.00 in a report on Monday. Royal Bank of Canada decreased their price objective on Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 23rd. Finally, Citigroup boosted their target price on shares of Air Canada from C$20.00 to C$21.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$25.27.

Air Canada Price Performance

AC opened at C$22.18 on Friday. The company has a market capitalization of C$7.95 billion, a price-to-earnings ratio of 4.95, a PEG 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 business’s fifty day simple moving average is C$16.97 and its 200-day simple moving average is C$17.42.

Air Canada (TSE:AC) last issued its earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.85 by C$0.13. The company had revenue of C$5.52 billion for the quarter, compared to analysts’ expectations of C$5.55 billion. Air Canada had a net margin of 7.92% and a return on equity of 603.77%. On average, equities research analysts anticipate that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Christophe Hennebelle acquired 1,900 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of C$15.70 per share, with a total value of C$29,830.00. 0.14% of the stock is owned by company insiders.

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.