Air Canada (TSE:AC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Air Canada (TSE:AC) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$30.12.

AC has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Air Canada from C$38.00 to C$41.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Royal Bank of Canada set a C$18.00 target price on Air Canada and gave the stock a “sector perform” rating in a report on Thursday, April 4th. TD Securities dropped their price target on Air Canada from C$34.00 to C$33.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. CIBC cut their price target on Air Canada from C$30.00 to C$28.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Finally, Canaccord Genuity Group raised their target price on shares of Air Canada from C$31.00 to C$32.00 and gave the company a “buy” rating in a report on Wednesday, January 31st.

Air Canada Stock Performance

TSE AC opened at C$18.53 on Wednesday. The business has a 50-day moving average price of C$19.02 and a 200-day moving average price of C$18.45. The firm has a market cap of C$6.64 billion, a price-to-earnings ratio of 3.11, a price-to-earnings-growth ratio of 0.02 and a beta of 2.42. Air Canada has a twelve month low of C$16.04 and a twelve month high of C$26.04. 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.

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

Insider Activity

In other news, Senior Officer Mark Youssef Nasr acquired 2,406 shares of Air Canada stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average cost of C$18.21 per share, with a total value of C$43,823.37. Insiders own 0.17% of the company’s stock.

Air Canada Company Profile

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.