Air Canada (TSE:AC) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Air Canada (TSE:AC) have earned an average rating of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$24.33.

Several research firms have commented on AC. Jefferies Financial Group upped their price objective on shares of Air Canada from C$17.00 to C$19.00 in a report on Tuesday, March 31st. Canadian Imperial Bank of Commerce upped their price objective on shares of Air Canada from C$23.00 to C$24.00 in a report on Wednesday, January 21st. BMO Capital Markets lowered their price target on shares of Air Canada from C$27.00 to C$26.00 in a report on Tuesday, March 31st. Canaccord Genuity Group downgraded shares of Air Canada from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$28.00 to C$21.00 in a report on Friday, March 13th. Finally, Scotiabank downgraded shares of Air Canada from an “outperform” rating to a “hold” rating and lowered their price target for the stock from C$27.00 to C$21.00 in a report on Tuesday, March 10th.

Air Canada Price Performance

TSE AC opened at C$17.96 on Wednesday. The company has a market cap of C$5.29 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 0.02 and a beta of 1.56. Air Canada has a 52 week low of C$12.69 and a 52 week high of C$23.72. The company has a quick ratio of 1.06, a current ratio of 0.56 and a debt-to-equity ratio of 446.78. The firm’s 50-day simple moving average is C$19.02 and its two-hundred day simple moving average is C$18.85.

Air Canada Company Profile

Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.