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

Air Canada (TSE:AC) had its price target increased by equities researchers at Scotiabank from C$24.00 to C$26.50 in a report issued on Monday, BayStreet.CA reports. Scotiabank’s price target would suggest a potential upside of 19.48% from the stock’s current price.

A number of other analysts also recently commented on AC. BMO Capital Markets dropped their price objective on Air Canada from C$33.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. TD Securities cut their target price on shares of Air Canada from C$25.00 to C$19.00 in a research note on Wednesday, July 24th. National Bankshares dropped their price target on Air Canada from C$24.00 to C$22.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Stifel Canada upgraded Air Canada to a “hold” rating in a report on Tuesday, October 15th. Finally, Jefferies Financial Group increased their price target on Air Canada from C$16.00 to C$18.00 in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$25.27.

Air Canada Stock Up 2.0 %

AC stock opened at C$22.18 on Monday. 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. The firm’s 50-day simple moving average is C$16.97 and its 200 day simple moving average is C$17.42. The stock has a market cap of C$7.95 billion, a PE ratio of 4.95, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. Air Canada has a fifty-two week low of C$14.47 and a fifty-two week high of C$22.25.

Air Canada (TSE:AC) last released its 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. The firm had revenue of C$5.52 billion for the quarter, compared to analysts’ expectations of C$5.55 billion. Air Canada had a net margin of 7.92% and a return on equity of 603.77%. As a group, sell-side analysts predict that Air Canada will post 2.5789474 EPS for the current year.

Insider Activity at Air Canada

In related news, Senior Officer Christophe Hennebelle bought 1,900 shares of the business’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of C$15.70 per share, for a total transaction of C$29,830.00. 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.