Air Canada (TSE:AC) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Air Canada (TSE:AC) had its price objective upped by equities research analysts at Jefferies Financial Group from C$18.00 to C$22.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. Jefferies Financial Group’s price target would suggest a potential downside of 5.01% from the stock’s current price.

Several other research firms have also recently weighed in on AC. Royal Bank of Canada cut their price objective on Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 23rd. ATB Capital boosted their price objective on Air Canada from C$26.50 to C$28.00 in a research report on Monday. Cormark boosted their price objective on Air Canada from C$21.75 to C$26.75 in a research report on Monday. Citigroup boosted their price objective on Air Canada from C$20.00 to C$21.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Stifel Canada raised Air Canada from a “hold” rating to a “strong-buy” rating in a research report on Sunday. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Air Canada presently has an average rating of “Moderate Buy” and an average price target of C$25.25.

Air Canada Price Performance

AC opened at C$23.16 on Tuesday. The stock has a market cap of C$8.30 billion, a price-to-earnings ratio of 5.17, a PEG ratio of 0.02 and a beta of 2.39. Air Canada has a 1 year low of C$14.47 and a 1 year high of C$23.21. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99. The stock has a fifty day moving average price of C$17.12 and a 200 day moving average price of C$17.45.

Air Canada (TSE:AC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of C$5.52 billion during the quarter, compared to analysts’ expectations of C$5.55 billion. Analysts forecast that Air Canada will post 2.5789474 EPS for the current fiscal year.

Insider Activity

In related news, Senior Officer Christophe Hennebelle purchased 1,900 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were bought at an average price 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.

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.