Air Canada (TSE:AC) Raised to Strong-Buy at Stifel Canada

Stifel Canada upgraded shares of Air Canada (TSE:AC) from a hold rating to a strong-buy rating in a research report report published on Sunday, Zacks.com reports. Stifel Canada also issued estimates for Air Canada’s Q4 2024 earnings at $0.43 EPS, FY2024 earnings at $3.71 EPS and FY2025 earnings at $3.47 EPS.

AC has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price objective on shares of Air Canada from C$32.00 to C$34.00 in a research report on Monday. Royal Bank of Canada reduced their target price on shares of Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 23rd. Stifel Nicolaus raised shares of Air Canada from a “hold” rating to a “buy” rating and increased their target price for the company from C$20.00 to C$25.50 in a research report on Monday. Scotiabank increased their target price on shares of Air Canada from C$24.00 to C$26.50 in a research report on Monday. Finally, Raymond James reduced their target price 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. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$25.25.

Air Canada Trading Up 4.4 %

TSE:AC opened at C$23.16 on Friday. 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 50-day moving average of C$17.12 and a 200-day moving average of C$17.45. The company has a market cap of C$8.30 billion, a PE ratio of 5.17, a PEG ratio of 0.02 and a beta of 2.39. Air Canada has a one year low of C$14.47 and a one year high of C$23.21.

Air Canada (TSE:AC) last posted its earnings results on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, topping 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 company had revenue of C$5.52 billion during the quarter, compared to the consensus estimate of C$5.55 billion. As a group, equities research analysts expect that Air Canada will post 2.5789474 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Christophe Hennebelle bought 1,900 shares of the stock in a transaction on Friday, August 9th. The shares were acquired at an average cost 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.

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.