National Bankshares Forecasts Strong Price Appreciation for Air Canada (TSE:AC) Stock

Air Canada (TSE:AC) had its price objective raised by stock analysts at National Bankshares from C$22.00 to C$27.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. National Bankshares’ price objective would suggest a potential upside of 21.73% from the company’s current price.

Several other research firms have also recently commented on AC. Scotiabank raised their target price on shares of Air Canada from C$24.00 to C$26.50 in a research report on Monday. JPMorgan Chase & Co. reduced their price target on Air Canada from C$41.00 to C$36.00 in a research note on Thursday, August 8th. Royal Bank of Canada lowered their target price on shares of Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. BMO Capital Markets cut their price target on shares of Air Canada from C$33.00 to C$28.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, Citigroup boosted their price objective on shares of Air Canada from C$20.00 to C$21.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$25.27.

Air Canada Price Performance

Shares of TSE:AC opened at C$22.18 on Monday. The company’s fifty day moving average is C$16.97 and its 200 day moving average is C$17.42. The company has a quick ratio of 1.06, a current ratio of 0.85 and a debt-to-equity ratio of 1,070.99. 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 cap of C$7.95 billion, a PE ratio of 4.95, a PEG ratio of 0.02 and a beta of 2.39.

Air Canada (TSE:AC) last posted its earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share (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 firm had revenue of C$5.52 billion for the quarter, compared to analysts’ expectations of C$5.55 billion. Research analysts anticipate that Air Canada will post 2.5789474 earnings per share for the current year.

Insider Activity at Air Canada

In related news, Senior Officer Christophe Hennebelle purchased 1,900 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was bought 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 insiders.

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.