ATB Capital Issues Positive Forecast for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its price objective raised by ATB Capital from C$26.50 to C$28.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. ATB Capital’s price target suggests a potential upside of 28.74% from the company’s current price.

Several other equities research analysts also recently commented on the stock. National Bankshares upped their price target on shares of Air Canada from C$22.00 to C$27.00 in a research report on Monday. Royal Bank of Canada reduced 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 research note on Tuesday, July 23rd. Citigroup upped their price target on Air Canada from C$20.00 to C$21.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Canaccord Genuity Group raised their target price on shares of Air Canada from C$25.00 to C$29.00 in a research note on Monday. Finally, Cormark boosted their target price on shares of Air Canada from C$21.75 to C$26.75 in a research report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Air Canada currently has an average rating of “Moderate Buy” and an average target price of C$24.98.

Air Canada Stock Up 1.1 %

AC stock traded up C$0.24 during trading on Monday, reaching C$21.75. The stock had a trading volume of 3,757,263 shares, compared to its average volume of 2,330,549. Air Canada has a 1-year low of C$14.47 and a 1-year high of C$21.97. The firm has a fifty day moving average price of C$16.71 and a 200 day moving average price of C$17.39. 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. The company has a market capitalization of C$7.80 billion, a P/E ratio of 4.86, a PEG ratio of 0.02 and a beta of 2.39.

Air Canada (TSE:AC) last announced its quarterly 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. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. The business had revenue of C$5.52 billion for the quarter, compared to the consensus estimate of C$5.55 billion. On average, equities analysts anticipate that Air Canada will post 2.5789474 earnings per share for the current year.

Insider Buying and Selling

In related news, Senior Officer Christophe Hennebelle bought 1,900 shares of Air Canada stock in a transaction dated Friday, August 9th. The stock was 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 currently owned by corporate 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.