Cormark Trims Air Canada (TSE:AC) Target Price to C$20.00

Air Canada (TSE:AC – Get Rating) had its target price trimmed by Cormark from C$25.00 to C$20.00 in a research report report published on Wednesday, Marketbeat.com reports. The brokerage currently has a hold rating on the stock. Cormark also issued estimates for Air Canada’s Q3 2022 earnings at $0.63 EPS, Q4 2022 earnings at ($0.46) EPS, FY2022 earnings at ($3.29) EPS, Q1 2023 earnings at ($0.42) EPS, Q2 2023 earnings at ($0.10) EPS, Q3 2023 earnings at $1.54 EPS, Q4 2023 earnings at ($0.34) EPS, FY2023 earnings at $0.68 EPS and FY2024 earnings at $2.63 EPS.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets reaffirmed a buy rating and set a C$35.00 target price on shares of Air Canada in a research note on Wednesday, April 27th. National Bankshares cut their target price on shares of Air Canada from C$31.00 to C$30.00 and set an outperform rating on the stock in a research note on Thursday, July 7th. JPMorgan Chase & Co. cut their target price on shares of Air Canada from C$31.00 to C$29.00 in a research note on Tuesday, April 12th. ATB Capital increased their price objective on shares of Air Canada from C$30.00 to C$32.00 and gave the company a buy rating in a research report on Wednesday. Finally, Scotiabank dropped their price objective on shares of Air Canada from C$31.00 to C$26.00 in a research report on Tuesday, June 28th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Air Canada presently has an average rating of Moderate Buy and an average price target of C$27.44.

Air Canada Price Performance

Shares of AC opened at C$18.06 on Wednesday. Air Canada has a fifty-two week low of C$15.57 and a fifty-two week high of C$26.80. The firm’s 50 day moving average price is C$17.99 and its 200 day moving average price is C$21.18. The company has a market cap of C$6.46 billion and a P/E ratio of -1.97. The company has a quick ratio of 1.17, a current ratio of 1.26 and a debt-to-equity ratio of 183,588.89.

Insider Activity at Air Canada

In other Air Canada news, Senior Officer Amos Kazzaz purchased 4,126 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The stock was purchased at an average price of C$21.36 per share, for a total transaction of C$88,115.68. Following the purchase, the insider now directly owns 17,043 shares in the company, valued at C$363,973.72. In other Air Canada news, Senior Officer Amos Kazzaz purchased 4,126 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The stock was purchased at an average price of C$21.36 per share, for a total transaction of C$88,115.68. Following the purchase, the insider now directly owns 17,043 shares in the company, valued at C$363,973.72. Also, Senior Officer Murray Douglas Strom sold 3,755 shares of the stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of C$21.33, for a total transaction of C$80,094.15. Following the sale, the insider now owns 2,740 shares of the company’s stock, valued at approximately C$58,444.20.

About Air Canada

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Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand name 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.