Air Canada (TSE:AC) Shares Up 3.7%

Air Canada (TSE:AC) was up 3.7% on Wednesday . The company traded as high as C$19.11 and last traded at C$19.06. Approximately 452,884 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 2,213,698 shares. The stock had previously closed at C$18.38.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AC shares. National Bankshares set a C$31.00 price objective on Air Canada and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Scotiabank dropped their target price on Air Canada from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. JPMorgan Chase & Co. boosted their target price on Air Canada from C$38.00 to C$41.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. TD Securities boosted their target price on Air Canada from C$30.00 to C$34.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Canaccord Genuity Group boosted their target price on Air Canada from C$31.00 to C$32.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$30.35.

Air Canada Price Performance

The company has a quick ratio of 1.06, a current ratio of 1.02 and a debt-to-equity ratio of 1,741.46. The company has a fifty day simple moving average of C$18.68 and a two-hundred day simple moving average of C$18.33. The company has a market cap of C$7.02 billion, a price-to-earnings ratio of 3.29, a price-to-earnings-growth ratio of 0.02 and a beta of 2.42.

Air Canada (TSE:AC) last issued its quarterly earnings data on Friday, February 16th. The company reported C($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.05) by C($0.07). The firm had revenue of C$5.18 billion during the quarter, compared to analyst estimates of C$5.05 billion. On average, equities research analysts anticipate that Air Canada will post 2.9504792 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Mark Youssef Nasr purchased 2,406 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was bought at an average cost of C$18.21 per share, for a total transaction of C$43,823.37. 0.17% of the stock is currently owned by insiders.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names 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.