Air Canada (TSE:AC) Price Target Raised to C$26.50

Air Canada (TSE:AC) had its price objective hoisted by Scotiabank from C$24.00 to C$26.50 in a research report sent to investors on Monday morning, BayStreet.CA reports.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Air Canada from C$41.00 to C$36.00 in a research report on Thursday, August 8th. Citigroup boosted their price target on shares of Air Canada from C$20.00 to C$21.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group boosted their price target on shares of Air Canada from C$16.00 to C$18.00 in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered their price target on shares of Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 23rd. Finally, ATB Capital lowered their price target on shares of Air Canada from C$27.00 to C$26.50 and set an “outperform” rating on the stock in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$25.25.

Air Canada Price Performance

Air Canada stock opened at C$23.16 on Monday. Air Canada has a 52-week low of C$14.47 and a 52-week high of C$23.21. The firm has a market capitalization 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. The company has a fifty day simple moving average of C$17.12 and a 200-day simple moving average of C$17.45. The company has a quick ratio of 1.06, a current ratio of 0.85 and a debt-to-equity ratio of 1,070.99.

Air Canada (TSE:AC) last released its earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.85 by C$0.13. The business had revenue of C$5.52 billion during the quarter, compared to analyst estimates 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 analysts anticipate that Air Canada will post 2.5789474 EPS for the current fiscal year.

Insiders Place Their Bets

In other Air Canada news, Senior Officer Christophe Hennebelle purchased 1,900 shares of the business’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of C$15.70 per share, for a total transaction 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.