Air Canada (TSE:AC) had its price objective boosted by equities research analysts at Cowen from C$47.00 to C$50.00 in a report released on Wednesday, BayStreet.CA reports. Cowen’s price objective points to a potential upside of 10.89% from the stock’s previous close.
Several other equities analysts have also commented on the stock. National Bank Financial upped their price target on shares of Air Canada from C$47.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. CIBC upped their price target on shares of Air Canada from C$50.00 to C$53.00 in a research report on Wednesday. Raymond James upped their price target on shares of Air Canada from C$38.00 to C$44.50 and gave the stock a “market perform” rating in a research report on Wednesday. Canaccord Genuity upped their price target on shares of Air Canada from C$45.00 to C$50.00 in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada upped their price target on shares of Air Canada from C$48.00 to C$57.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of C$49.96.
AC stock traded down C$1.60 during trading on Wednesday, hitting C$45.09. 1,666,596 shares of the company’s stock traded hands, compared to its average volume of 1,148,163. The company has a quick ratio of 0.85, a current ratio of 0.93 and a debt-to-equity ratio of 294.80. Air Canada has a 52 week low of C$22.57 and a 52 week high of C$47.43. The firm’s fifty day moving average price is C$41.75. The stock has a market cap of $12.64 billion and a PE ratio of 17.48.
Air Canada (TSE:AC) last released its quarterly earnings results on Monday, May 6th. The company reported C$0.06 EPS for the quarter, topping the consensus estimate of C($0.18) by C$0.24. The firm had revenue of C$4.45 billion for the quarter, compared to the consensus estimate of C$4.38 billion. As a group, equities analysts forecast that Air Canada will post 4.83 earnings per share for the current fiscal year.
In related news, Senior Officer Pierre Houle sold 1,955 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of C$35.81, for a total value of C$70,009.53.
About Air Canada
Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand name 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.
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