Air Canada (TSE:AC) PT Lowered to C$29.00

Air Canada (TSE:AC) had its price objective dropped by equities research analysts at Scotiabank from C$30.00 to C$29.00 in a report released on Thursday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 48.49% from the company’s current price.

A number of other research firms have also weighed in on AC. Canaccord Genuity Group raised their price target on shares of Air Canada from C$31.00 to C$32.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. increased their target price on Air Canada from C$38.00 to C$41.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Royal Bank of Canada decreased their target price on shares of Air Canada from C$17.00 to C$14.00 and set a “sector perform” rating on the stock in a report on Monday, January 29th. ATB Capital cut their price objective on Air Canada from C$33.00 to C$32.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. Finally, TD Securities upped their target price on shares of Air Canada from C$30.00 to C$34.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$30.04.

Air Canada Stock Performance

Shares of Air Canada stock traded down C$0.11 during trading on Thursday, reaching C$19.53. The company’s stock had a trading volume of 1,220,931 shares, compared to its average volume of 2,252,176. The business’s 50-day moving average price is C$18.34 and its 200-day moving average price is C$18.36. Air Canada has a 52 week low of C$16.04 and a 52 week high of C$26.04. The firm has a market cap of C$7.00 billion, a PE ratio of 3.28, a P/E/G ratio of 0.02 and a beta of 2.40. The company has a quick ratio of 1.06, a current ratio of 1.02 and a debt-to-equity ratio of 1,741.46.

Air Canada (TSE:AC) last issued its quarterly earnings data on Friday, February 16th. The company reported C($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.05) by C($0.07). The company had revenue of C$5.18 billion during the quarter, compared to analyst estimates of C$5.05 billion. Equities analysts forecast that Air Canada will post 2.9514107 earnings per share for the current year.

Insider Transactions at Air Canada

In other Air Canada news, Senior Officer Mark Youssef Nasr bought 2,406 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average price of C$18.21 per share, for a total transaction of C$43,823.37. Company insiders own 0.17% 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.