Air Canada (TSE:AC) PT Lowered to C$25.00 at Cormark

Air Canada (TSE:ACGet Rating) had its price target dropped by research analysts at Cormark to C$25.00 in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm currently has a “market perform” rating on the stock. Cormark’s target price would suggest a potential upside of 9.60% from the stock’s current price.

Several other research analysts have also weighed in on AC. Citigroup increased their target price on shares of Air Canada from C$23.50 to C$24.50 and gave the stock a “buy” rating in a research note on Wednesday, April 6th. Cowen cut 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 report on Thursday, March 31st. TD Securities lifted their target price on shares of Air Canada from C$29.00 to C$30.00 and gave the company a “buy” rating in a report on Wednesday. National Bankshares lifted their price objective on shares of Air Canada from C$29.00 to C$31.00 and gave the company an “outperform” rating in a research report on Thursday, April 14th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Air Canada from C$31.00 to C$29.00 in a report on Tuesday, April 12th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$29.70.

AC traded up C$0.35 during trading on Wednesday, hitting C$22.81. The company’s stock had a trading volume of 3,723,806 shares, compared to its average volume of 3,463,512. The company has a current ratio of 1.45, a quick ratio of 1.37 and a debt-to-equity ratio of 183,588.89. Air Canada has a twelve month low of C$19.31 and a twelve month high of C$29.17. The business’s fifty day simple moving average is C$23.28 and its 200 day simple moving average is C$22.98. The firm has a market capitalization of C$8.16 billion and a price-to-earnings ratio of -2.20.

Air Canada (TSE:ACGet Rating) last issued its quarterly earnings results on Friday, February 18th. The company reported C($1.26) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C($1.27) by C$0.01. The firm had revenue of C$2.73 billion during the quarter, compared to analyst estimates of C$2.41 billion. As a group, equities research analysts forecast that Air Canada will post 1.6700001 earnings per share for the current fiscal year.

In related news, Senior Officer Amos Kazzaz sold 4,909 shares of the firm’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of C$21.49, for a total value of C$105,494.41. Following the completion of the transaction, the insider now directly owns 11,076 shares of the company’s stock, valued at C$238,023.24. Also, Director Michael Stewart Rousseau sold 18,868 shares of the firm’s 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 completion of the transaction, the director now directly owns 103,303 shares of the company’s stock, valued at C$2,438,983.83. In the last 90 days, insiders sold 24,265 shares of company stock worth $562,602.

Air Canada Company Profile (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.

Further Reading

Analyst Recommendations for Air Canada (TSE:AC)

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