Air Canada (TSE:AC) Price Target Raised to C$37.50

Air Canada (TSE:AC) had its price objective hoisted by Scotia from C$33.50 to C$37.50 in a report released on Wednesday morning,BayStreet.CA reports. The firm currently has a sector outperform rating on the stock.

A number of other research analysts have also recently weighed in on AC. BMO Capital Markets lifted their price target on shares of Air Canada from C$30.00 to C$37.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Canaccord Genuity Group increased their price objective on shares of Air Canada from C$20.00 to C$26.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Canadian Imperial Bank of Commerce raised their target price on shares of Air Canada from C$26.00 to C$40.00 in a research note on Friday, August 14th. National Bank Financial lifted their target price on shares of Air Canada from C$29.00 to C$40.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Finally, ATB Cormark Capital Markets upped their price target on shares of Air Canada from C$32.00 to C$45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$32.29.

Air Canada Price Performance

AC stock opened at C$28.76 on Wednesday. The company has a market cap of C$8.06 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 0.02 and a beta of 2.02. The company has a current ratio of 0.60, a quick ratio of 1.05 and a debt-to-equity ratio of 478.10. The stock has a 50-day moving average price of C$25.28 and a two-hundred day moving average price of C$21.46. Air Canada has a 12-month low of C$16.45 and a 12-month high of C$31.45.

Air Canada (TSE:AC) last released its quarterly earnings data on Tuesday, August 11th. The company reported C$0.40 EPS for the quarter. Air Canada had a return on equity of 16.92% and a net margin of 1.82%.The company had revenue of C$6.27 billion for the quarter. As a group, research analysts predict that Air Canada will post 2.5789474 EPS for the current year.

About Air Canada

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.