Air Canada (TSE:AC) Price Target Cut to C$29.00

Air Canada (TSE:ACGet Rating) had its target price dropped by research analysts at JPMorgan Chase & Co. from C$31.00 to C$29.00 in a research report issued on Tuesday, BayStreet.CA reports. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 30.63% from the company’s current price.

AC has been the topic of a number of other research reports. Cowen decreased their price objective on shares of Air Canada from C$32.00 to C$29.00 and set an “outperform” rating on the stock in a research report on Thursday, March 31st. CIBC boosted their price target on Air Canada from C$33.00 to C$35.00 and gave the company an “outperform” rating in a report on Tuesday, February 22nd. Cormark increased their price objective on Air Canada to C$27.00 and gave the stock a “market perform” rating in a report on Tuesday, February 22nd. ATB Capital boosted their target price on Air Canada from C$34.00 to C$35.00 and gave the company a “buy” rating in a research note on Tuesday, February 22nd. Finally, Scotiabank upped their target price on Air Canada from C$29.00 to C$31.00 in a report on Tuesday, February 22nd. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Air Canada presently has an average rating of “Buy” and a consensus price target of C$29.63.

AC traded down C$0.06 on Tuesday, hitting C$22.20. 1,172,731 shares of the company were exchanged, compared to its average volume of 3,423,395. The company has a debt-to-equity ratio of 183,588.89, a quick ratio of 1.37 and a current ratio of 1.45. The firm has a fifty day simple moving average of C$23.45 and a two-hundred day simple moving average of C$23.00. The stock has a market capitalization of C$7.94 billion and a PE ratio of -2.17. Air Canada has a 12 month low of C$19.31 and a 12 month high of C$29.17.

Air Canada (TSE:ACGet Rating) last issued its earnings results on Friday, February 18th. The company reported C($1.26) earnings per share (EPS) for the quarter, topping the consensus estimate of C($1.27) by C$0.01. The firm had revenue of C$2.73 billion during the quarter, compared to the consensus estimate of C$2.41 billion. On average, equities analysts expect that Air Canada will post 1.6699999 earnings per share for the current year.

In other news, Director Michael Stewart Rousseau sold 18,868 shares of the stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of C$23.61, for a total value of C$445,473.48. Following the sale, the director now directly owns 103,303 shares of the company’s stock, valued at C$2,438,983.83. Also, Senior Officer Amos Kazzaz sold 4,909 shares of the firm’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of C$21.49, for a total value of C$105,494.41. Following the transaction, the insider now owns 11,076 shares of the company’s stock, valued at C$238,023.24. Over the last three months, insiders have sold 24,265 shares of company stock valued at $562,602.

About Air Canada (Get Rating)

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.

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