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

Air Canada (TSE:AC) had its target price hoisted by National Bankshares from C$23.00 to C$24.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. National Bankshares currently has a sector perform rating on the stock.

A number of other research firms have also issued reports on AC. BMO Capital Markets dropped their price target on Air Canada from C$28.00 to C$27.00 in a research report on Thursday, October 9th. National Bank Financial downgraded Air Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. CIBC dropped their target price on Air Canada from C$24.00 to C$22.00 and set an “outperform” rating for the company in a report on Friday, September 26th. TD Securities cut their target price on Air Canada from C$25.00 to C$22.00 in a research note on Friday, September 26th. Finally, Stifel Nicolaus reduced their price target on Air Canada from C$25.00 to C$24.00 and set a “buy” rating on the stock in a report on Friday, September 26th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$24.23.

Air Canada Price Performance

TSE:AC opened at C$19.59 on Wednesday. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06. The firm has a market cap of C$5.80 billion, a price-to-earnings ratio of -28.39, a price-to-earnings-growth ratio of 0.02 and a beta of 1.75. The company has a 50 day moving average price of C$19.02 and a 200-day moving average price of C$19.30. Air Canada has a 1-year low of C$12.69 and a 1-year high of C$23.72.

Air Canada (TSE:AC) last posted its earnings results on Tuesday, November 4th. The company reported C$0.75 earnings per share (EPS) for the quarter. The business had revenue of C$5.77 billion for the quarter. Air Canada had a net margin of 11.57% and a return on equity of 177.01%. Equities research analysts forecast that Air Canada will post 2.5789474 EPS for the current year.

About Air Canada

Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.