Jefferies Financial Group Issues Positive Forecast for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its target price upped by Jefferies Financial Group from C$18.00 to C$22.00 in a report published on Tuesday, BayStreet.CA reports.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus upgraded shares of Air Canada from a “hold” rating to a “buy” rating and boosted their price target for the company from C$20.00 to C$25.50 in a report on Monday. Cormark boosted their price target on shares of Air Canada from C$21.75 to C$26.75 in a report on Monday. Royal Bank of Canada reduced their price target on shares of Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. Citigroup boosted their price target on shares of Air Canada from C$20.00 to C$21.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, CIBC boosted their price target on shares of Air Canada from C$25.00 to C$27.00 in a report on Monday. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$25.27.

Air Canada Price Performance

Air Canada stock opened at C$22.18 on Tuesday. The stock has a market cap of C$7.95 billion, a price-to-earnings ratio of 4.95, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. 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. Air Canada has a 1 year low of C$14.47 and a 1 year high of C$22.25. The firm has a 50-day moving average of C$16.97 and a two-hundred day moving average of C$17.42.

Air Canada (TSE:AC) last released 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. The company had revenue of C$5.52 billion during 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%. On average, research analysts forecast that Air Canada will post 2.5789474 earnings per share for the current year.

Insiders Place Their Bets

In other news, Senior Officer Christophe Hennebelle purchased 1,900 shares of the stock in a transaction on Friday, August 9th. The stock was bought at an average price of C$15.70 per share, with a total value of C$29,830.00. Corporate 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.