Air Canada (TSE:AC) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Air Canada (TSE:AC) had its price target boosted by JPMorgan Chase & Co. from C$32.00 to C$34.00 in a research report released on Monday morning, BayStreet.CA reports.

Several other analysts have also recently weighed in on the company. Scotiabank lifted their price target on Air Canada from C$24.00 to C$26.50 in a report on Monday. CIBC lowered their price objective on Air Canada from C$28.00 to C$25.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 23rd. ATB Capital lowered their price objective on Air Canada from C$27.00 to C$26.50 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. Royal Bank of Canada decreased their price target on Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 23rd. Finally, Cormark decreased their price target on Air Canada from C$25.50 to C$21.25 in a research note on Tuesday, July 23rd. 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 company. According to data from MarketBeat, Air Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of C$25.25.

Air Canada Stock Performance

AC opened at C$23.16 on Monday. Air Canada has a 12-month low of C$14.47 and a 12-month high of C$23.21. The stock has a market cap 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. The business has a 50 day moving average of C$17.12 and a 200-day moving average of C$17.45. 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 (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 analysts’ consensus estimates 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 return on equity of 603.77% and a net margin of 7.92%. On average, equities research analysts expect that Air Canada will post 2.5789474 earnings per share for the current year.

Insiders Place Their Bets

In related news, Senior Officer Christophe Hennebelle bought 1,900 shares of the business’s stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of C$15.70 per share, with a total value of C$29,830.00. Company 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.