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

Air Canada (TSE:AC) had its target price upped by Scotiabank from C$24.00 to C$26.50 in a research report sent to investors on Monday morning, BayStreet.CA reports.

A number of other analysts have also recently weighed in on AC. BMO Capital Markets cut their price objective on shares of Air Canada from C$33.00 to C$28.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. National Bankshares cut their price objective on shares of Air Canada from C$24.00 to C$22.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. ATB Capital cut their price objective on shares of Air Canada from C$27.00 to C$26.50 and set an “outperform” rating on the stock in a report on Tuesday, September 10th. Stifel Nicolaus raised shares of Air Canada from a “hold” rating to a “buy” rating and lifted their target price for the company from C$20.00 to C$25.50 in a report on Monday. Finally, JPMorgan Chase & Co. cut their target price on shares of Air Canada from C$41.00 to C$36.00 in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$25.25.

Air Canada Stock Up 4.4 %

AC stock opened at C$23.16 on Monday. The company has a debt-to-equity ratio of 1,070.99, a quick ratio of 1.06 and a current ratio of 0.85. Air Canada has a fifty-two week low of C$14.47 and a fifty-two week high of C$23.21. The company’s 50 day moving average price is C$17.12 and its 200 day moving average price is C$17.45. The firm has a market capitalization of C$8.30 billion, a price-to-earnings ratio of 5.17, a PEG ratio of 0.02 and a beta of 2.39.

Air Canada (TSE:AC) last released its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of C$5.52 billion for the quarter, compared to analysts’ expectations of C$5.55 billion. On average, equities research analysts anticipate that Air Canada will post 2.5789474 EPS for the current fiscal year.

Insider Activity at Air Canada

In other news, Senior Officer Christophe Hennebelle acquired 1,900 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were purchased 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 currently 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.