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

Air Canada (TSE:AC) had its price objective raised by analysts at National Bankshares from C$22.00 to C$27.00 in a research note issued on Monday, BayStreet.CA reports. National Bankshares’ price target suggests a potential upside of 24.14% from the company’s previous close.

Several other brokerages also recently weighed in on AC. Raymond James reduced their price objective on shares of Air Canada from C$28.00 to C$22.00 and set an “outperform” rating for the company in a research report on Tuesday, July 23rd. Stifel Canada upgraded shares of Air Canada to a “hold” rating in a research note on Tuesday, October 15th. TD Securities cut their target price on Air Canada from C$25.00 to C$19.00 in a research report on Wednesday, July 24th. Jefferies Financial Group raised their price target on Air Canada from C$16.00 to C$18.00 in a research note on Wednesday, October 2nd. Finally, Scotiabank raised their target price on shares of Air Canada from C$24.00 to C$26.50 in a research report on Monday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$24.98.

Air Canada Stock Up 1.1 %

TSE:AC traded up C$0.24 during midday trading on Monday, reaching C$21.75. The company had a trading volume of 3,757,263 shares, compared to its average volume of 2,330,549. The stock’s fifty day simple moving average is C$16.71 and its 200-day simple moving average is 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. Air Canada has a 12-month low of C$14.47 and a 12-month high of C$21.97. The firm has a market capitalization of C$7.80 billion, a price-to-earnings ratio of 4.86, a PEG ratio of 0.02 and a beta of 2.39.

Air Canada (TSE:AC) last posted its earnings results on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, beating the consensus estimate of C$0.85 by C$0.13. The firm had revenue of C$5.52 billion for the quarter, compared to analyst estimates of C$5.55 billion. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. On average, sell-side analysts anticipate that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

Insider Buying and Selling at Air Canada

In related news, Senior Officer Christophe Hennebelle purchased 1,900 shares of Air Canada stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of C$15.70 per share, for a total transaction of C$29,830.00. 0.14% of the stock is owned by corporate 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.