ATB Capital Issues Positive Forecast for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its price target lifted by ATB Capital from C$26.50 to C$28.00 in a report published on Monday morning, BayStreet.CA reports.

A number of other brokerages have also weighed in on AC. JPMorgan Chase & Co. lifted their price target on shares of Air Canada from C$32.00 to C$34.00 in a research note on Monday. Stifel Canada raised shares of Air Canada to a “hold” rating in a research report on Tuesday, October 15th. Stifel Nicolaus upgraded Air Canada from a “hold” rating to a “buy” rating and increased their target price for the stock from C$20.00 to C$25.50 in a report on Monday. BMO Capital Markets boosted their price target on Air Canada from C$28.00 to C$29.00 in a report on Monday. Finally, TD Securities reduced their price objective on Air Canada from C$25.00 to C$19.00 in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Air Canada presently has an average rating of “Moderate Buy” and an average price target of C$24.98.

Air Canada Stock Performance

Shares of Air Canada stock opened at C$21.74 on Monday. The stock’s fifty day simple moving average is C$16.84 and its 200 day simple moving average is C$17.41. 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 capitalization of C$7.79 billion, a PE ratio of 4.85, a PEG ratio of 0.02 and a beta of 2.39. Air Canada has a 12 month low of C$14.47 and a 12 month high of C$21.97.

Air Canada (TSE:AC) last released its quarterly earnings results on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, topping analysts’ consensus estimates of C$0.85 by C$0.13. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. The company had revenue of C$5.52 billion for the quarter, compared to analyst estimates of C$5.55 billion. On average, research analysts predict that Air Canada will post 2.5789474 EPS for the current year.

Insider Activity at Air Canada

In other news, Senior Officer Christophe Hennebelle acquired 1,900 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of C$15.70 per share, with a total value of C$29,830.00. 0.14% of the stock is owned by company insiders.

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.