Stifel Nicolaus Forecasts Strong Price Appreciation for Air Canada (TSE:AC) Stock

Air Canada (TSE:AC) had its price objective increased by analysts at Stifel Nicolaus from C$22.00 to C$23.00 in a research note issued on Monday,BayStreet.CA reports. Stifel Nicolaus’ target price would suggest a potential upside of 21.12% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. BMO Capital Markets decreased their price objective on shares of Air Canada from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research note on Thursday, April 3rd. CIBC decreased their price objective on shares of Air Canada from C$24.00 to C$21.00 in a research note on Thursday, April 10th. Raymond James decreased their price objective on shares of Air Canada from C$28.00 to C$24.00 in a research note on Tuesday, May 6th. Scotiabank decreased their price objective on shares of Air Canada from C$25.00 to C$21.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Royal Bank of Canada reduced their target price on shares of Air Canada from C$20.00 to C$16.00 and set a “sector perform” rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Air Canada has an average rating of “Moderate Buy” and an average target price of C$24.31.

Air Canada Stock Performance

TSE AC opened at C$18.99 on Monday. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06. Air Canada has a 1 year low of C$12.69 and a 1 year high of C$26.18. The company has a market capitalization of C$6.77 billion, a PE ratio of 2.67, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a fifty day moving average of C$14.70 and a two-hundred day moving average of C$18.95.

Insider Buying and Selling

In related news, Senior Officer Craig Landry bought 7,909 shares of the stock in a transaction on Monday, March 31st. The shares were bought at an average cost of C$13.99 per share, for a total transaction of C$110,646.91. Also, Director Vagn Sorensen bought 11,440 shares of the stock in a transaction on Wednesday, February 19th. The shares were bought at an average price of C$17.40 per share, for a total transaction of C$199,057.14. Insiders bought 32,993 shares of company stock valued at $538,251 over the last ninety days. 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.