Air Canada (TSE:AC) Price Target Increased to C$32.00 by Analysts at CIBC

Air Canada (TSE:ACGet Rating) had its price target hoisted by CIBC from C$31.00 to C$32.00 in a research note released on Wednesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on AC. National Bankshares dropped their price target on shares of Air Canada from C$30.00 to C$29.00 and set an outperform rating for the company in a research note on Tuesday, October 25th. Royal Bank of Canada increased their price objective on shares of Air Canada from C$20.00 to C$21.00 and gave the stock a sector perform rating in a research report on Monday, October 31st. Raymond James increased their price objective on shares of Air Canada from C$23.00 to C$24.00 in a research report on Monday, November 7th. Citigroup increased their price objective on shares of Air Canada from C$20.00 to C$22.00 in a research report on Monday, October 31st. Finally, Cormark increased their price objective on shares of Air Canada from C$20.00 to C$21.00 in a research report on Monday, October 31st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of C$27.31.

Air Canada Trading Down 2.0 %

AC stock opened at C$21.60 on Wednesday. Air Canada has a 52-week low of C$15.57 and a 52-week high of C$25.98. The company has a quick ratio of 1.06, a current ratio of 1.13 and a debt-to-equity ratio of 183,588.89. The company’s 50-day simple moving average is C$19.47 and its 200-day simple moving average is C$18.48. The firm has a market cap of C$7.74 billion and a P/E ratio of -2.35.

Air Canada (TSE:ACGet Rating) last released its quarterly earnings results on Friday, October 28th. The company reported C$0.68 earnings per share for the quarter, topping the consensus estimate of C$0.43 by C$0.25. The company had revenue of C$5.32 billion for the quarter, compared to analyst estimates of C$4.93 billion. As a group, equities analysts forecast that Air Canada will post 0.73 EPS for the current fiscal year.

Insider Activity

In other news, Senior Officer Samuel Elfassy sold 1,728 shares of the firm’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of C$18.78, for a total value of C$32,452.36. Following the sale, the insider now directly owns 21,528 shares in the company, valued at approximately C$404,302.30. In related news, Director Michael Stewart Rousseau sold 32,588 shares of Air Canada stock in a transaction on Monday, November 28th. The shares were sold at an average price of C$19.05, for a total transaction of C$620,863.32. Following the sale, the director now directly owns 129,317 shares in the company, valued at approximately C$2,463,734.55. Also, Senior Officer Samuel Elfassy sold 1,728 shares of Air Canada stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of C$18.78, for a total transaction of C$32,452.36. Following the sale, the insider now owns 21,528 shares in the company, valued at C$404,302.30. In the last three months, insiders have sold 49,023 shares of company stock worth $937,909.

Air Canada Company Profile

(Get Rating)

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand name 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.

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Analyst Recommendations for Air Canada (TSE:AC)

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