Air Canada (TSE:AC) PT Lowered to C$28.00 at CIBC

Air Canada (TSE:AC) had its price target decreased by research analysts at CIBC from C$30.00 to C$28.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential upside of 49.25% from the company’s current price.

Several other equities analysts have also commented on the company. BMO Capital Markets reissued a “buy” rating and issued a C$32.00 target price on shares of Air Canada in a report on Tuesday, February 20th. Canaccord Genuity Group increased 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. ATB Capital dropped their target price on Air Canada from C$33.00 to C$32.00 and set an “outperform” rating on the stock in a report on Tuesday, February 20th. TD Securities raised their price objective on Air Canada from C$30.00 to C$34.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. lifted their target price on Air Canada from C$38.00 to C$41.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Air Canada has a consensus rating of “Moderate Buy” and an average price target of C$30.12.

Air Canada Stock Up 0.1 %

Shares of TSE AC opened at C$18.76 on Friday. The stock has a market cap of C$6.72 billion, a P/E ratio of 3.15, a PEG ratio of 0.02 and a beta of 2.42. The business’s fifty day simple moving average is C$19.01 and its 200-day simple moving average is C$18.41. The company has a current ratio of 1.02, a quick ratio of 1.06 and a debt-to-equity ratio of 1,741.46. Air Canada has a 12-month low of C$16.04 and a 12-month high of C$26.04.

Air Canada (TSE:AC) last posted its earnings results on Friday, February 16th. The company reported C($0.12) EPS for the quarter, missing the consensus estimate of C($0.05) by C($0.07). The company had revenue of C$5.18 billion during the quarter, compared to analysts’ expectations of C$5.05 billion. As a group, equities analysts predict that Air Canada will post 2.9024768 EPS for the current fiscal year.

Insider Activity at Air Canada

In related news, Senior Officer Mark Youssef Nasr purchased 2,406 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were purchased at an average price 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.