Canaccord Genuity Group Forecasts Strong Price Appreciation for Air Canada (TSE:AC) Stock

Air Canada (TSE:AC) had its price target hoisted by stock analysts at Canaccord Genuity Group from C$25.00 to C$29.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. Canaccord Genuity Group’s target price would indicate a potential upside of 30.75% from the company’s previous close.

A number of other analysts also recently weighed in on the company. CIBC lifted their price target on Air Canada from C$25.00 to C$27.00 in a research note on Monday. Raymond James lowered their target price on shares of Air Canada from C$28.00 to C$22.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 23rd. Stifel Nicolaus upgraded Air Canada from a “hold” rating to a “buy” rating and upped their price target for the stock from C$20.00 to C$25.50 in a report on Monday. BMO Capital Markets decreased their target price on Air Canada from C$33.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group lifted their price target on Air Canada from C$16.00 to C$18.00 in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$25.27.

Air Canada Stock Performance

TSE:AC opened at C$22.18 on Monday. 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 firm has a market cap of C$7.95 billion, a price-to-earnings ratio of 4.95, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The firm’s fifty day moving average price is C$16.97 and its 200 day moving average price is C$17.42. Air Canada has a 1-year low of C$14.47 and a 1-year high of C$22.25.

Air Canada (TSE:AC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.85 by C$0.13. Air Canada had a net margin of 7.92% and a return on equity of 603.77%. The firm 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 year.

Insider Buying and Selling

In related news, Senior Officer Christophe Hennebelle acquired 1,900 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of C$15.70 per share, with a total value 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.