Air Canada (AC) – Investment Analysts’ Weekly Ratings Updates

A number of research firms have changed their ratings and price targets for Air Canada (TSE: AC):

• 5/4/2022 – Air Canada had its price target lowered by analysts at Canaccord Genuity Group Inc. from C$26.00 to C$25.00.
• 5/3/2022 – Air Canada had its price target raised by analysts at Citigroup Inc. from C$24.50 to C$25.50. They now have a “neutral” rating on the stock.
• 4/27/2022 – Air Canada had its price target lowered by analysts at Cormark to C$25.00. They now have a “market perform” rating on the stock.
• 4/27/2022 – Air Canada had its price target raised by analysts at TD Securities from C$29.00 to C$30.00. They now have a “buy” rating on the stock.
• 4/27/2022 – Air Canada had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a C$35.00 price target on the stock.
• 4/14/2022 – Air Canada had its price target raised by analysts at National Bankshares, Inc. from C$29.00 to C$31.00. They now have an “outperform” rating on the stock.
• 4/12/2022 – Air Canada had its price target lowered by analysts at JPMorgan Chase & Co. from C$31.00 to C$29.00.
• 4/6/2022 – Air Canada had its price target raised by analysts at Citigroup Inc. from C$23.50 to C$24.50. They now have a “buy” rating on the stock.
• 4/1/2022 – Air Canada had its price target lowered by analysts at TD Securities from C$31.00 to C$30.00. They now have a “buy” rating on the stock.
• 3/31/2022 – Air Canada had its price target lowered by analysts at Cowen Inc from C$32.00 to C$29.00. They now have an “outperform” rating on the stock.
• 3/31/2022 – Air Canada had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a C$35.00 price target on the stock.

TSE AC traded down C$1.04 during trading hours on Monday, hitting C$20.85. 2,489,755 shares of the company’s stock were exchanged, compared to its average volume of 3,421,736. The stock has a 50-day simple moving average of C$22.90 and a 200 day simple moving average of C$22.95. The firm has a market cap of C$7.46 billion and a price-to-earnings ratio of -2.03. 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 1-year low of C$19.31 and a 1-year high of C$29.17.

Air Canada (TSE:AC – Get Rating) last announced its quarterly 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, sell-side analysts anticipate that Air Canada will post 1.4800001 earnings per share for the current fiscal year.

In other news, Director Michael Stewart Rousseau sold 18,868 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 103,303 shares in the company, valued at C$2,438,983.83. Also, Senior Officer Amos Kazzaz sold 4,909 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 11,076 shares in the company, valued at approximately C$238,023.24. In the last quarter, insiders sold 24,265 shares of company stock worth $562,602.

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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