Air Canada (TSE:AC) Stock Price Expected to Rise, Scotiabank Analyst Says

Air Canada (TSE:AC) had its price target raised by Scotiabank from C$24.00 to C$26.50 in a research note issued to investors on Monday, BayStreet.CA reports.

Several other research analysts have also issued reports on the company. Cormark decreased their target price on Air Canada from C$25.50 to C$21.25 in a research report on Tuesday, July 23rd. Raymond James decreased their price objective on Air Canada from C$28.00 to C$22.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. 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 on the stock in a report on Tuesday, July 23rd. CIBC decreased their price target on shares of Air Canada from C$28.00 to C$25.00 and set an “outperform” rating for the company in a research note on Tuesday, July 23rd. Finally, Citigroup lifted 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. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$24.98.

Air Canada Stock Performance

TSE:AC opened at C$21.74 on Monday. 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. The firm’s fifty day simple moving average is C$16.84 and its 200 day simple moving average is C$17.41. The stock has a market cap of C$7.79 billion, a P/E ratio of 4.85, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. Air Canada has a twelve month low of C$14.47 and a twelve month high of C$21.97.

Air Canada (TSE:AC) last announced its earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of C$5.55 billion. As a group, research analysts predict that Air Canada will post 2.5789474 EPS for the current year.

Insider Activity at Air Canada

In other Air Canada news, Senior Officer Christophe Hennebelle acquired 1,900 shares of the 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. 0.14% of the stock is owned by insiders.

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.