Air Canada (TSE:AC) Price Target Cut to C$28.00 by Analysts at National Bankshares

Air Canada (TSE:AC) had its price objective lowered by analysts at National Bankshares from C$30.00 to C$28.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bankshares’ price target would suggest a potential upside of 57.66% from the stock’s previous close.

A number of other research analysts also recently issued reports on AC. Scotiabank dropped their price target on shares of Air Canada from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a research report on Thursday, March 28th. TD Securities dropped their price target on shares of Air Canada from C$34.00 to C$33.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Royal Bank of Canada set a C$18.00 price target on shares of Air Canada and gave the stock a “sector perform” rating in a research report on Thursday, April 4th. Jefferies Financial Group lowered their price objective on shares of Air Canada from C$20.00 to C$19.00 in a research note on Thursday, June 20th. Finally, CIBC lowered their price objective on shares of Air Canada from C$30.00 to C$28.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Air Canada currently has a consensus rating of “Moderate Buy” and an average price target of C$29.18.

Air Canada Stock Performance

AC stock traded down C$0.18 during trading hours on Wednesday, reaching C$17.76. The stock had a trading volume of 694,308 shares, compared to its average volume of 2,176,265. The stock has a market capitalization of C$6.37 billion, a PE ratio of 3.08, a price-to-earnings-growth ratio of 0.02 and a beta of 2.40. The stock has a 50-day simple moving average of C$18.30 and a 200 day simple moving average of C$18.53. Air Canada has a fifty-two week low of C$16.04 and a fifty-two week high of C$26.04. The company has a debt-to-equity ratio of 1,767.66, a current ratio of 0.85 and a quick ratio of 1.06.

Air Canada (TSE:AC) last released its quarterly earnings results on Thursday, May 2nd. The company reported C($0.27) EPS for the quarter, missing analysts’ consensus estimates of C($0.15) by C($0.12). The company had revenue of C$5.23 billion for the quarter, compared to analyst estimates of C$5.13 billion. Analysts predict that Air Canada will post 3.1906412 EPS for the current fiscal year.

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.