Citigroup Increases Air Canada (TSE:AC) Price Target to C$21.00

Air Canada (TSE:AC) had its target price hoisted by Citigroup from C$20.00 to C$21.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the company. Raymond James reduced their target price on Air Canada from C$28.00 to C$22.00 and set an outperform rating on the stock in a report on Tuesday, July 23rd. Scotiabank increased their price objective on shares of Air Canada from C$22.00 to C$24.00 and gave the stock an outperform rating in a research report on Tuesday. BMO Capital Markets lowered their target price on shares of Air Canada from C$33.00 to C$28.00 and set an outperform rating for the company in a research note on Wednesday, July 24th. CIBC cut their price target on shares of Air Canada from C$28.00 to C$25.00 and set an outperform rating on the stock in a research report on Tuesday, July 23rd. Finally, ATB Capital lowered their price objective on Air Canada from C$27.00 to C$26.50 and set an outperform rating for the company in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of C$23.98.

Air Canada Price Performance

AC stock opened at C$17.23 on Tuesday. The company has a market capitalization of C$6.18 billion, a P/E ratio of 3.85, a PEG ratio of 0.02 and a beta of 2.39. The company has a fifty day moving average price of C$15.83 and a 200-day moving average price of C$17.41. The company has a debt-to-equity ratio of 1,070.99, a quick ratio of 1.06 and a current ratio of 0.85. Air Canada has a 52-week low of C$14.47 and a 52-week high of C$20.47.

Air Canada (TSE:AC) last announced its earnings results on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, topping the consensus estimate of C$0.85 by C$0.13. The firm had revenue of C$5.52 billion for the quarter, compared to the consensus estimate of C$5.55 billion. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. As a group, equities analysts expect that Air Canada will post 2.5789474 EPS for the current year.

Insider Buying and Selling at Air Canada

In other news, Senior Officer Christophe Hennebelle bought 1,900 shares of the stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of C$15.70 per share, with a total value of C$29,830.00. Insiders own 0.14% 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.