Air Canada (TSE:AC) Price Target Raised to C$29.00

Air Canada (TSE:AC) had its price objective raised by Canaccord Genuity Group from C$25.00 to C$29.00 in a research report report published on Monday morning, BayStreet.CA reports.

A number of other equities analysts also recently issued reports on AC. CIBC increased their price target on shares of Air Canada from C$25.00 to C$27.00 in a report on Monday. Royal Bank of Canada dropped their target price on shares of Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. TD Securities lowered their price target on shares of Air Canada from C$25.00 to C$19.00 in a report on Wednesday, July 24th. Citigroup lifted their price target 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of Air Canada from C$32.00 to C$34.00 in a report on Monday. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$25.25.

Air Canada Trading Up 4.4 %

Shares of Air Canada stock opened at C$23.16 on Monday. The company has a fifty day simple moving average of C$17.12 and a 200-day simple moving average of C$17.45. Air Canada has a 12-month low of C$14.47 and a 12-month high of C$23.21. 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. The stock has a market cap of C$8.30 billion, a price-to-earnings ratio of 5.17, a PEG ratio of 0.02 and a beta of 2.39.

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

Insider Buying and Selling

In related news, Senior Officer Christophe Hennebelle bought 1,900 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of C$15.70 per share, with a total value of C$29,830.00. Corporate insiders own 0.14% of the company’s stock.

Air Canada Company Profile

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.