Air Canada (TSE:AC) Given New C$22.00 Price Target at National Bankshares

Air Canada (TSE:AC) had its target price decreased by National Bankshares from C$24.00 to C$22.00 in a report published on Wednesday morning, BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

Several other analysts have also issued reports on the stock. Cormark cut their price target on shares of Air Canada from C$25.50 to C$21.25 in a research report on Tuesday, July 23rd. BMO Capital Markets reduced their price target on Air Canada from C$33.00 to C$28.00 and set an outperform rating on the stock in a research report on Wednesday, July 24th. CIBC lowered their price objective on Air Canada from C$28.00 to C$25.00 and set an outperform rating for the company in a research report on Tuesday, July 23rd. Citigroup dropped their price objective 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. Finally, ATB Capital decreased their target price on shares of Air Canada from C$27.00 to C$26.50 and set an outperform rating on the stock in a research note on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Air Canada has a consensus rating of Moderate Buy and an average target price of C$23.60.

Air Canada Price Performance

Shares of TSE AC opened at C$16.52 on Wednesday. The stock’s 50-day simple moving average is C$15.81 and its two-hundred day simple moving average is C$17.54. Air Canada has a twelve month low of C$14.47 and a twelve month high of C$20.47. The firm has a market capitalization of C$5.92 billion, a P/E ratio of 3.69, a P/E/G ratio of 0.02 and a beta of 2.39. 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 posted its quarterly earnings data 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 company had revenue of C$5.52 billion during the quarter, compared to the consensus estimate of C$5.55 billion. Air Canada had a net margin of 7.92% and a return on equity of 603.77%. As a group, equities analysts anticipate that Air Canada will post 2.8336192 EPS for the current fiscal year.

Insider Transactions at Air Canada

In other news, Senior Officer Christophe Hennebelle bought 1,900 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of C$15.70 per share, for a total transaction of C$29,830.00. 0.14% of the stock is owned by 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.