Jefferies Financial Group Forecasts Strong Price Appreciation for Air Canada (TSE:AC) Stock

Air Canada (TSE:AC) had its target price hoisted by analysts at Jefferies Financial Group from C$22.00 to C$23.00 in a research note issued on Monday,BayStreet.CA reports. Jefferies Financial Group’s price objective points to a potential upside of 1.55% from the stock’s current price.

Several other research firms have also commented on AC. CIBC increased their target price on shares of Air Canada from C$27.00 to C$28.00 in a report on Wednesday, December 4th. Cormark increased their target price on Air Canada from C$26.75 to C$29.50 in a report on Wednesday, December 18th. Raymond James raised Air Canada to a “moderate buy” rating in a research note on Tuesday, December 17th. Citigroup dropped their target price on shares of Air Canada from C$28.50 to C$26.50 and set a “buy” rating for the company in a report on Monday, December 30th. Finally, Stifel Canada upgraded Air Canada from a “hold” rating to a “strong-buy” rating in a report on Sunday, November 3rd. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$26.60.

Air Canada Stock Performance

Air Canada stock traded up C$0.32 during mid-day trading on Monday, reaching C$22.65. The company’s stock had a trading volume of 1,351,831 shares, compared to its average volume of 2,395,737. The company has a market capitalization of C$8.12 billion, a P/E ratio of 5.06, a PEG ratio of 0.02 and a beta of 2.39. The firm’s fifty day moving average price is C$23.22 and its two-hundred day moving average price is C$18.87. Air Canada has a 12-month low of C$14.47 and a 12-month high of C$26.18. 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.

Insider Activity at Air Canada

In other Air Canada news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of C$21.71, for a total transaction of C$130,246.80. 0.14% of the stock is owned by insiders.

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.