Air Canada (TSE:AC) Given New C$29.00 Price Target at BMO Capital Markets

Air Canada (TSE:AC) had its price target hoisted by analysts at BMO Capital Markets from C$28.00 to C$29.00 in a research report issued on Monday, BayStreet.CA reports. BMO Capital Markets’ price objective would suggest a potential upside of 33.33% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Air Canada from C$25.00 to C$29.00 in a research note on Monday. Stifel Nicolaus upgraded shares of Air Canada from a “hold” rating to a “buy” rating and raised their target price for the company from C$20.00 to C$25.50 in a research note on Monday. Jefferies Financial Group boosted their price objective on Air Canada from C$16.00 to C$18.00 in a research report on Wednesday, October 2nd. Raymond James decreased their price objective 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. Finally, Citigroup lifted their target price on shares of Air Canada from C$20.00 to C$21.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.98.

Air Canada Stock Up 1.1 %

AC traded up C$0.24 on Monday, reaching C$21.75. 3,757,263 shares of the company traded hands, compared to its average volume of 2,330,549. The company has a market cap of C$7.80 billion, a price-to-earnings ratio of 4.86, a PEG ratio of 0.02 and a beta of 2.39. The company has a debt-to-equity ratio of 1,070.99, a current ratio of 0.85 and a quick ratio of 1.06. The stock’s 50 day moving average price is C$16.71 and its 200-day moving average price is C$17.39. Air Canada has a 52-week low of C$14.47 and a 52-week high of C$21.97.

Air Canada (TSE:AC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, beating the consensus estimate of C$0.85 by C$0.13. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. The business had revenue of C$5.52 billion during the quarter, compared to analysts’ expectations of C$5.55 billion. On average, sell-side analysts expect that Air Canada will post 2.5789474 EPS for the current fiscal 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 that occurred on Friday, August 9th. The shares were acquired at an average cost of C$15.70 per share, for a total transaction of C$29,830.00. Company 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.