Air Canada (TSE:AC) Stock Price Target Cut by National Bank Financial

Air Canada (TSE:AC) had its price target cut by stock analysts at National Bank Financial from C$37.00 to C$33.00 in a research report issued on Friday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial‘s price objective would suggest a potential upside of 64.18% from the stock’s previous close.

A number of other research firms have also recently issued reports on AC. BMO Capital Markets increased their price objective on shares of Air Canada from C$30.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. UBS Group upped their price target on Air Canada from C$24.00 to C$33.00 in a report on Thursday, August 13th. Canaccord Genuity Group upgraded Air Canada from a “hold” rating to a “buy” rating and dropped their price objective for the company from C$29.00 to C$25.00 in a research note on Thursday, October 22nd. Canadian Imperial Bank of Commerce raised their price target on shares of Air Canada from C$26.00 to C$40.00 in a research report on Friday, August 14th. Finally, Stifel Nicolaus decreased their price target on Air Canada from C$38.00 to C$32.00 and set a “buy” rating for the company in a research report on Thursday. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Air Canada presently has an average rating of “Moderate Buy” and an average target price of C$31.00.

Air Canada Trading Down 8.1%

AC traded down C$1.77 during trading on Friday, hitting C$20.10. The company’s stock had a trading volume of 4,124,617 shares, compared to its average volume of 2,919,360. The firm has a market capitalization of C$5.08 billion, a P/E ratio of 15.34, a PEG ratio of 0.02 and a beta of 1.86. Air Canada has a twelve month low of C$16.45 and a twelve month high of C$31.45. The stock’s fifty day moving average price is C$25.88 and its 200-day moving average price is C$22.34. The company has a quick ratio of 1.05, a current ratio of 0.60 and a debt-to-equity ratio of 478.10.

Air Canada (TSE:AC) last released its quarterly earnings data on Thursday, October 29th. The company reported C$0.75 earnings per share for the quarter. Air Canada had a net margin of 1.82% and a return on equity of 16.92%. The company had revenue of C$6.98 billion during the quarter. Analysts anticipate that Air Canada will post 2.58 EPS for the current 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.