Air Canada (TSE:AC) Price Target Raised to C$29.00 at Canaccord Genuity Group

Air Canada (TSE:AC) had its target price lifted by Canaccord Genuity Group from C$25.00 to C$29.00 in a research note released on Monday, BayStreet.CA reports.

A number of other research firms also recently commented on AC. Jefferies Financial Group increased their price objective on shares of Air Canada from C$16.00 to C$18.00 in a research note on Wednesday, October 2nd. Stifel Canada raised shares of Air Canada to a “hold” rating in a report on Tuesday, October 15th. BMO Capital Markets dropped their target price 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. CIBC increased their target price on shares of Air Canada from C$25.00 to C$27.00 in a report on Monday. Finally, JPMorgan Chase & Co. increased their target price on shares of Air Canada from C$32.00 to C$34.00 in a report on Monday. Two equities 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$25.25.

Air Canada Trading Up 4.4 %

Shares of AC stock opened at C$23.16 on Monday. The stock has a market cap of C$8.30 billion, a price-to-earnings ratio of 5.17, a price-to-earnings-growth 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 has a fifty-two week low of C$14.47 and a fifty-two week high of C$23.21. The firm’s 50 day moving average price is C$17.12 and its two-hundred day moving average price is C$17.45.

Air Canada (TSE:AC) last announced its earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share for the quarter, beating the consensus estimate of C$0.85 by C$0.13. The business 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%. On average, analysts anticipate that Air Canada will post 2.5789474 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Christophe Hennebelle bought 1,900 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of C$15.70 per share, for a total transaction of C$29,830.00. Corporate insiders own 0.14% of the company’s stock.

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.