Royal Bank Of Canada Forecasts Strong Price Appreciation for Air Canada (TSE:AC) Stock

Air Canada (TSE:AC) had its target price boosted by stock analysts at Royal Bank Of Canada from C$22.00 to C$28.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 14.75% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on AC. Canadian Imperial Bank of Commerce cut their price target on Air Canada from C$25.00 to C$22.00 in a research note on Wednesday, April 8th. TD dropped their price objective on Air Canada from C$23.00 to C$21.00 in a report on Monday, April 20th. Scotiabank lowered Air Canada from an “outperform” rating to a “hold” rating and reduced their target price for the stock from C$27.00 to C$21.00 in a report on Tuesday, March 10th. Stifel Nicolaus decreased their price target on Air Canada from C$28.00 to C$25.50 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Finally, Jefferies Financial Group boosted their price target on Air Canada from C$17.00 to C$19.00 in a research note on Tuesday, March 31st. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Air Canada presently has a consensus rating of “Moderate Buy” and an average price target of C$23.82.

Air Canada Stock Performance

Shares of AC stock traded down C$0.27 on Monday, hitting C$24.40. The company’s stock had a trading volume of 961,809 shares, compared to its average volume of 3,058,220. Air Canada has a fifty-two week low of C$16.45 and a fifty-two week high of C$24.95. The company has a market capitalization of C$7.00 billion, a PE ratio of 10.08, a PEG ratio of 0.02 and a beta of 2.08. The stock’s 50 day moving average is C$20.71 and its 200-day moving average is C$19.68. The company has a debt-to-equity ratio of 452.24, a quick ratio of 1.05 and a current ratio of 0.60.

Air Canada (TSE:AC) last posted its quarterly earnings data on Thursday, April 30th. The company reported C($0.05) earnings per share (EPS) for the quarter. Air Canada had a net margin of 3.46% and a return on equity of 34.23%. The business had revenue of C$5.79 billion during the quarter. Equities research analysts expect that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

About Air Canada

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.