Air Canada (TSE:AC) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Air Canada (TSE:AC) from a hold rating to a buy rating in a report released on Thursday morning, Marketbeat.com reports. The brokerage currently has C$25.00 price objective on the stock, down from their previous price objective of C$29.00.

A number of other research analysts also recently commented on the company. Jefferies Financial Group downgraded Air Canada from a “hold” rating to a “moderate sell” rating and lowered their target price for the company from C$26.00 to C$19.00 in a research report on Monday, October 19th. BMO Capital Markets boosted their price target on shares of Air Canada from C$30.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Scotiabank reduced their price target on shares of Air Canada from C$37.50 to C$33.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 15th. National Bank Financial decreased their price target on shares of Air Canada from C$40.00 to C$37.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Finally, Canadian Imperial Bank of Commerce increased their price objective on shares of Air Canada from C$26.00 to C$40.00 in a research report on Friday, August 14th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$32.73.

Air Canada Price Performance

Shares of Air Canada stock opened at C$21.11 on Thursday. The stock has a 50 day moving average of C$26.48 and a 200 day moving average of C$23.70. Air Canada has a 12 month low of C$16.45 and a 12 month high of C$31.45. The firm has a market cap of C$5.34 billion, a PE ratio of 16.11, a PEG ratio of 0.02 and a beta of 1.86. The company has a current ratio of 0.60, a quick ratio of 1.05 and a debt-to-equity ratio of 478.10.

Air Canada (TSE:AC) last released its quarterly earnings results on Tuesday, August 11th. The company reported C$0.40 earnings per share for the quarter. Air Canada had a return on equity of 16.92% and a net margin of 1.82%. The business had revenue of C$6.27 billion during the quarter. On average, research analysts expect that Air Canada will post 2.58 EPS for the current fiscal 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.