Air Canada (TSE:AC) Price Target Raised to C$24.00 at Scotiabank

Air Canada (TSE:AC) had its price target boosted by analysts at Scotiabank from C$22.00 to C$24.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 38.97% from the stock’s current price.

AC has been the topic of a number of other research reports. Raymond James reduced their price objective on Air Canada from C$28.00 to C$22.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 23rd. Jefferies Financial Group boosted their target price on shares of Air Canada from C$16.00 to C$18.00 in a report on Wednesday, October 2nd. Cormark cut their price target on shares of Air Canada from C$25.50 to C$21.25 in a report on Tuesday, July 23rd. TD Securities lowered their target price on Air Canada from C$25.00 to C$19.00 in a research report on Wednesday, July 24th. Finally, Citigroup decreased their price target on Air Canada from C$25.00 to C$21.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$23.98.

Air Canada Stock Performance

Shares of AC traded up C$0.12 during trading hours on Tuesday, hitting C$17.27. The company had a trading volume of 1,138,999 shares, compared to its average volume of 2,192,060. The business has a fifty day moving average of C$15.80 and a 200-day moving average of C$17.43. 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 has a market cap of C$6.19 billion, a price-to-earnings ratio of 3.85, a PEG ratio of 0.02 and a beta of 2.39. Air Canada has a 12 month low of C$14.47 and a 12 month high of C$20.47.

Air Canada (TSE:AC) last announced its earnings results on Wednesday, August 7th. The company reported C$0.98 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%. Equities analysts anticipate that Air Canada will post 2.5789474 EPS for the current fiscal year.

Insider Transactions at Air Canada

In other news, Senior Officer Christophe Hennebelle acquired 1,900 shares of Air Canada stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of C$15.70 per share, with a total value of C$29,830.00. Company 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.