Analysts Set Air Canada (TSE:AC) PT at C$29.07

Air Canada (TSE:AC) has earned a consensus rating of “Buy” from the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$29.07.

AC has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their target price on Air Canada from C$25.00 to C$24.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 3rd. Raymond James reaffirmed a “market perform” rating on shares of Air Canada in a report on Thursday, October 14th. Wolfe Research downgraded Air Canada to a “hold” rating in a report on Wednesday, October 6th. JPMorgan Chase & Co. raised their target price on Air Canada from C$29.00 to C$31.00 and gave the company a “neutral” rating in a report on Wednesday, November 3rd. Finally, Scotiabank raised their target price on Air Canada from C$28.00 to C$31.00 in a report on Wednesday, November 3rd.

In other news, Senior Officer Chris Isford sold 11,500 shares of the firm’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of C$26.50, for a total value of C$304,750.00. Following the completion of the sale, the insider now directly owns 25,595 shares in the company, valued at approximately C$678,267.50.

Shares of TSE AC traded down C$0.19 during trading hours on Friday, reaching C$22.85. 2,152,038 shares of the stock were exchanged, compared to its average volume of 2,531,609. The firm has a market capitalization of C$8.17 billion and a price-to-earnings ratio of -1.80. Air Canada has a 52 week low of C$19.31 and a 52 week high of C$31.00. The company has a debt-to-equity ratio of 11,504.83, a quick ratio of 1.54 and a current ratio of 1.60. The stock’s fifty day simple moving average is C$22.44 and its 200 day simple moving average is C$23.60.

Air Canada (TSE:AC) last issued its quarterly earnings results on Tuesday, November 2nd. The company reported C($1.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C($1.46) by C($0.25). The company had revenue of C$2.10 billion during the quarter, compared to analyst estimates of C$1.84 billion. Research analysts predict that Air Canada will post -0.89 EPS for the current fiscal year.

Air Canada Company Profile

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand name 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.

Featured Story: What are earnings reports?

Analyst Recommendations for Air Canada (TSE:AC)

Receive News & Ratings for Air Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Canada and related companies with MarketBeat.com's FREE daily email newsletter.