Air Canada (TSE:AC) Price Target Raised to C$28.00

Air Canada (TSE:AC) had its target price raised by equities researchers at ATB Capital from C$26.50 to C$28.00 in a research report issued on Monday, BayStreet.CA reports. ATB Capital’s target price points to a potential upside of 28.74% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus raised shares of Air Canada from a “hold” rating to a “buy” rating and increased their price target for the stock from C$20.00 to C$25.50 in a research report on Monday. TD Securities reduced their price objective on Air Canada from C$25.00 to C$19.00 in a research note on Wednesday, July 24th. Jefferies Financial Group boosted their target price on Air Canada from C$16.00 to C$18.00 in a research note on Wednesday, October 2nd. Citigroup boosted their price objective on Air Canada from C$20.00 to C$21.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Canaccord Genuity Group boosted their target price on shares of Air Canada from C$25.00 to C$29.00 in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$24.98.

Air Canada Trading Up 1.1 %

Shares of AC traded up C$0.24 during mid-day 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. The business’s fifty day moving average is C$16.71 and its 200 day moving average is C$17.39. Air Canada has a 52-week low of C$14.47 and a 52-week high of C$21.97. The company has a debt-to-equity ratio of 1,070.99, a current ratio of 0.85 and a quick ratio of 1.06. The firm has a market cap of C$7.80 billion, a price-to-earnings ratio of 4.86, a P/E/G ratio of 0.02 and a beta of 2.39.

Air Canada (TSE:AC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 earnings per share (EPS) for the quarter, beating the consensus estimate 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. On average, sell-side analysts predict 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 bought 1,900 shares of Air Canada stock in a transaction dated Friday, August 9th. The stock was bought at an average price of C$15.70 per share, for a total transaction of C$29,830.00. Company insiders own 0.14% of the company’s stock.

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.