BMO Capital Markets Forecasts Strong Price Appreciation for Air Canada (TSE:AC) Stock

Air Canada (TSE:AC) had its target price lifted by BMO Capital Markets from C$28.00 to C$29.00 in a research report sent to investors on Monday morning, BayStreet.CA reports.

Several other analysts have also issued reports on the company. Citigroup boosted their target price on Air Canada from C$20.00 to C$21.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Canaccord Genuity Group upped their price objective on shares of Air Canada from C$25.00 to C$29.00 in a report on Monday. Jefferies Financial Group lifted their target price on shares of Air Canada from C$16.00 to C$18.00 in a research note on Wednesday, October 2nd. Raymond James dropped their price target on shares of Air Canada from C$28.00 to C$22.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 23rd. Finally, Stifel Canada upgraded shares of Air Canada to a “hold” rating in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$24.98.

Air Canada Price Performance

AC opened at C$21.74 on Monday. Air Canada has a fifty-two week low of C$14.47 and a fifty-two week high of C$21.97. The firm has a 50-day moving average of C$16.84 and a 200 day moving average of C$17.41. The company has a debt-to-equity ratio of 1,070.99, a quick ratio of 1.06 and a current ratio of 0.85. The firm has a market cap of C$7.79 billion, a P/E ratio of 4.85, a PEG ratio of 0.02 and a beta of 2.39.

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

Insider Buying and Selling

In other Air Canada news, Senior Officer Christophe Hennebelle purchased 1,900 shares of the stock in a transaction on Friday, August 9th. The shares were purchased 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.