ATB Capital Trims Air Canada (TSE:AC) Target Price to C$26.50

Air Canada (TSE:AC) had its price target lowered by investment analysts at ATB Capital from C$27.00 to C$26.50 in a report issued on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Capital’s target price would suggest a potential upside of 77.02% from the stock’s previous close.

AC has been the topic of a number of other research reports. Royal Bank of Canada reduced their price objective on Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 23rd. Jefferies Financial Group reduced their price objective on Air Canada from C$19.00 to C$16.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. TD Securities dropped their target price on Air Canada from C$25.00 to C$19.00 in a research report on Wednesday, July 24th. CIBC dropped their target price on Air Canada from C$28.00 to C$25.00 and set an “outperform” rating for the company in a research report on Tuesday, July 23rd. Finally, Cormark dropped their target price on Air Canada from C$25.50 to C$21.25 in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.75.

Air Canada Price Performance

AC stock traded down C$0.10 during trading on Tuesday, hitting C$14.97. The company had a trading volume of 612,024 shares, compared to its average volume of 2,155,886. The company has a fifty day moving average price of C$16.11 and a two-hundred day moving average price of C$17.70. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99. The company has a market cap of C$5.37 billion, a P/E ratio of 3.34, a P/E/G ratio of 0.02 and a beta of 2.39. Air Canada has a fifty-two week low of C$14.47 and a fifty-two week high of C$21.51.

Air Canada (TSE:AC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, beating the consensus estimate of C$0.85 by C$0.13. The business had revenue of C$5.52 billion for the quarter, compared to analyst estimates of C$5.55 billion. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. Equities research analysts expect that Air Canada will post 2.818854 earnings per share for the current fiscal year.

Insider Buying and Selling at Air Canada

In other Air Canada news, Senior Officer Christophe Hennebelle bought 1,900 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of C$15.70 per share, with a total value of C$29,830.00. Insiders own 0.14% 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.