Air Canada (TSE:AC) Shares Up 3.7%

Air Canada (TSE:AC) shot up 3.7% during trading on Wednesday . The stock traded as high as C$19.11 and last traded at C$19.06. 452,884 shares were traded during trading, a decline of 80% from the average session volume of 2,213,698 shares. The stock had previously closed at C$18.38.

Analyst Upgrades and Downgrades

Several research firms have commented on AC. Scotiabank dropped their price objective on shares of Air Canada from C$30.00 to C$29.00 and set an “outperform” rating for the company in a research note on Thursday, March 28th. JPMorgan Chase & Co. lifted their target price on Air Canada from C$38.00 to C$41.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Royal Bank of Canada set a C$18.00 target price on Air Canada and gave the stock a “sector perform” rating in a research report on Thursday, April 4th. BMO Capital Markets reiterated a “buy” rating and set a C$32.00 target price on shares of Air Canada in a research report on Tuesday, February 20th. Finally, National Bankshares set a C$31.00 target price on Air Canada and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Air Canada presently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.35.

Air Canada Price Performance

The firm has a market capitalization of C$7.02 billion, a P/E ratio of 3.29, a P/E/G ratio of 0.02 and a beta of 2.42. The company has a debt-to-equity ratio of 1,741.46, a current ratio of 1.02 and a quick ratio of 1.06. The stock’s fifty day simple moving average is C$18.68 and its 200 day simple moving average is C$18.33.

Air Canada (TSE:AC) last issued its quarterly earnings results on Friday, February 16th. The company reported C($0.12) earnings per share for the quarter, missing the consensus estimate of C($0.05) by C($0.07). The company had revenue of C$5.18 billion for the quarter, compared to the consensus estimate of C$5.05 billion. On average, equities research analysts predict that Air Canada will post 2.9504792 EPS for the current year.

Insider Transactions at Air Canada

In other news, Senior Officer Mark Youssef Nasr acquired 2,406 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of C$18.21 per share, with a total value of C$43,823.37. Corporate insiders own 0.17% of the company’s stock.

Air Canada Company Profile

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.