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 research firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$29.07.

AC has been the topic of a number of research analyst reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a C$33.00 target price on shares of Air Canada in a report on Tuesday, November 2nd. Wolfe Research downgraded Air Canada to a “hold” rating in a report on Wednesday, October 6th. National Bank Financial raised Air Canada from a “sector perform market weight” rating to an “outperform market weight” rating in a report on Tuesday, November 2nd. ATB Capital raised their target price on Air Canada from C$33.00 to C$34.00 and gave the company a “buy” rating in a report on Wednesday, November 3rd. Finally, Cowen raised their target price on Air Canada from C$27.00 to C$32.00 and gave the company an “outperform” rating 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. 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. Air Canada has a 52 week low of C$19.31 and a 52 week high of C$31.00. 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.

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Analyst Recommendations for Air Canada (TSE:AC)

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