Air Canada (TSE:AC) Stock Price Expected to Rise, CIBC Analyst Says

Air Canada (TSE:AC) had its target price upped by CIBC from C$25.00 to C$27.00 in a report issued on Monday, BayStreet.CA reports. CIBC’s price target points to a potential upside of 21.73% from the stock’s current price.

A number of other analysts also recently weighed in on the company. Cormark increased their price target on Air Canada from C$21.75 to C$26.75 in a report on Monday. ATB Capital lowered their price objective on shares of Air Canada from C$27.00 to C$26.50 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. Scotiabank increased their target price on shares of Air Canada from C$24.00 to C$26.50 in a research note on Monday. Jefferies Financial Group upped their price objective on shares of Air Canada from C$16.00 to C$18.00 in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus raised Air Canada from a “hold” rating to a “buy” rating and boosted their target price for the company from C$20.00 to C$25.50 in a research report on Monday. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$25.27.

Air Canada Price Performance

Air Canada stock opened at C$22.18 on Monday. 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$22.25. The stock has a market capitalization of C$7.95 billion, a P/E ratio of 4.95, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The stock has a fifty day moving average of C$16.97 and a 200-day moving average of C$17.42.

Air Canada (TSE:AC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.85 by C$0.13. The company had revenue of C$5.52 billion during 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%. On average, sell-side analysts expect that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

Insider Activity at Air Canada

In other news, Senior Officer Christophe Hennebelle acquired 1,900 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of C$15.70 per share, for a total transaction of C$29,830.00. 0.14% of the stock is currently owned by company 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.