Scotiabank Increases Air Canada (TSE:AC) Price Target to C$24.00

Air Canada (TSE:AC) had its price objective raised by Scotiabank from C$22.00 to C$24.00 in a research note released on Tuesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently issued reports on AC. Citigroup decreased their target price on shares of Air Canada from C$25.00 to C$21.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. CIBC decreased their target price on shares of Air Canada from C$28.00 to C$25.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 23rd. National Bankshares decreased their target price on shares of Air Canada from C$24.00 to C$22.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their target price on shares of Air Canada from C$41.00 to C$36.00 in a research report on Thursday, August 8th. Finally, Royal Bank of Canada decreased their target price on shares of Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$23.70.

Air Canada Stock Performance

Shares of TSE AC opened at C$18.28 on Tuesday. The company has a market cap of C$6.55 billion, a PE ratio of 4.08, a price-to-earnings-growth 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$20.47. The company has a debt-to-equity ratio of 1,070.99, a current ratio of 0.85 and a quick ratio of 1.06. The company has a 50-day simple moving average of C$15.99 and a 200-day simple moving average of C$17.42.

Air Canada (TSE:AC) last issued 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. The business 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, equities analysts anticipate that Air Canada will post 2.5789474 earnings per share for the current year.

Insider Transactions at Air Canada

In other news, Senior Officer Christophe Hennebelle bought 1,900 shares of Air Canada stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of C$15.70 per share, with a total value of C$29,830.00. Corporate 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.