Air Canada (TSE:AC) Stock Gets Price Target Trim from Royal Bank Of Canada

by · The Markets Daily

Air Canada (TSE:AC – Get Free Report) had its price target reduced by equities research analysts at Royal Bank Of Canada from C$37.00 to C$28.00 in a report issued on Monday, BayStreet reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective would suggest a potential upside of 33.65% from the company’s current price.

AC has been the subject of several other research reports. BMO Capital Markets cut their price objective on Air Canada from C$35.00 to C$33.00 and set an “outperform” rating for the company in a research report on Friday. Canadian Imperial Bank of Commerce upped their price target on shares of Air Canada from C$26.00 to C$40.00 in a research note on Friday, August 14th. ATB Cormark Capital Markets cut their price target on shares of Air Canada from C$45.00 to C$43.00 and set an “outperform” rating for the company in a report on Tuesday, October 27th. Jefferies Financial Group downgraded shares of Air Canada from a “hold” rating to a “moderate sell” rating and decreased their price objective for the stock from C$26.00 to C$19.00 in a report on Monday, October 19th. Finally, National Bank Financial lowered their target price on shares of Air Canada from C$37.00 to C$33.00 and set an “outperform” rating on the stock in a research report on Friday. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Air Canada has an average rating of “Moderate Buy” and a consensus target price of C$30.31.

Read Our Latest Research Report on Air Canada

Air Canada Stock Up 3.8%

AC stock traded up C$0.76 during mid-day trading on Monday, reaching C$20.95. The company had a trading volume of 2,471,126 shares, compared to its average volume of 2,922,937. Air Canada has a fifty-two week low of C$16.45 and a fifty-two week high of C$31.45. The firm has a fifty day simple moving average of C$25.70 and a 200 day simple moving average of C$22.35. The company has a debt-to-equity ratio of 517.55, a quick ratio of 1.05 and a current ratio of 0.64. The company has a market capitalization of C$5.30 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 0.02 and a beta of 1.86.

Air Canada (TSE:AC – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported C$0.75 earnings per share (EPS) for the quarter. The company had revenue of C$6.98 billion during the quarter. Air Canada had a net margin of 1.23% and a return on equity of 12.10%. Analysts forecast that Air Canada will post 2.58 earnings per share for the current fiscal year.

About Air Canada

(Get Free Report)

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.

Recommended Stories