Air Canada (TSE:AC) Price Target Raised to C$28.00 at Scotiabank

Air Canada (TSE:AC – Get Rating) had its price objective lifted by Scotiabank from C$25.00 to C$28.00 in a research report sent to investors on Monday morning, Marketbeat reports. Scotiabank currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. Raymond James increased their target price on shares of Air Canada from C$23.00 to C$24.00 in a report on Monday, November 7th. CIBC lifted their price objective on shares of Air Canada from C$31.00 to C$32.00 and gave the company an outperform rating in a report on Wednesday, January 18th. TD Securities boosted their price objective on shares of Air Canada from C$25.00 to C$26.00 and gave the stock a buy rating in a research note on Wednesday, November 16th. Cormark increased their target price on Air Canada from C$20.00 to C$21.00 in a research report on Monday, October 31st. Finally, BMO Capital Markets reduced their price target on Air Canada from C$35.00 to C$30.00 in a research report on Thursday, October 13th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Air Canada has an average rating of Moderate Buy and an average price target of C$27.46.

Air Canada Stock Up 1.2 %

Shares of TSE AC opened at C$22.05 on Monday. Air Canada has a 52-week low of C$15.57 and a 52-week high of C$25.98. The firm has a market capitalization of C$7.90 billion and a price-to-earnings ratio of -2.40. The stock has a 50 day moving average price of C$19.66 and a 200 day moving average price of C$18.60. The company has a debt-to-equity ratio of 183,588.89, a quick ratio of 1.06 and a current ratio of 1.13.

Air Canada (TSE:AC – Get Rating) last issued its 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 firm had revenue of C$5.32 billion during the quarter, compared to analysts’ expectations of C$4.93 billion. Sell-side analysts expect that Air Canada will post 0.73 earnings per share for the current year.

Insider Activity at Air Canada

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

About Air Canada

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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.