Air Canada (TSE:AC) Price Target Increased to C$21.00 by Analysts at Citigroup

Air Canada (TSE:AC) had its price target raised by Citigroup from C$20.00 to C$21.00 in a research report released on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other analysts have also recently weighed in on AC. Royal Bank of Canada dropped their price objective on shares of Air Canada from C$18.00 to C$17.00 and set a sector perform rating for the company in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. dropped their price target on shares of Air Canada from C$41.00 to C$36.00 in a research report on Thursday, August 8th. Scotiabank increased their price target on Air Canada from C$22.00 to C$24.00 and gave the stock an outperform rating in a research report on Tuesday. Cormark dropped their price objective on Air Canada from C$25.50 to C$21.25 in a report on Tuesday, July 23rd. Finally, CIBC reduced their target price on Air Canada from C$28.00 to C$25.00 and set an outperform rating on the stock in a report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of C$23.98.

Air Canada Price Performance

Shares of TSE AC opened at C$17.23 on Tuesday. The business’s 50 day moving average is C$15.83 and its 200-day moving average is C$17.41. The firm has a market cap of C$6.18 billion, a P/E ratio of 3.85, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. Air Canada has a 1-year low of C$14.47 and a 1-year high of C$20.47. 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.

Air Canada (TSE:AC) last posted its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 earnings per share for the quarter, topping the consensus estimate of C$0.85 by C$0.13. The firm had revenue of C$5.52 billion for the quarter, compared to analysts’ expectations 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 predict that Air Canada will post 2.5789474 earnings per share for the current year.

Insider Transactions at Air Canada

In related news, Senior Officer Christophe Hennebelle purchased 1,900 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of C$15.70 per share, with a total value of C$29,830.00. Company 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.