CIBC Lowers Air Canada (TSE:AC) Price Target to C$28.00

Air Canada (TSE:AC) had its price objective dropped by analysts at CIBC from C$30.00 to C$28.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price objective would indicate a potential upside of 49.25% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. BMO Capital Markets restated a “buy” rating and set a C$32.00 target price on shares of Air Canada in a research note on Tuesday, February 20th. Canaccord Genuity Group boosted their price target on shares of Air Canada from C$31.00 to C$32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of Air Canada from C$38.00 to C$41.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Royal Bank of Canada set a C$18.00 price target on shares of Air Canada and gave the stock a “sector perform” rating in a research note on Thursday, April 4th. Finally, National Bankshares set a C$31.00 price target on shares of Air Canada and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$30.12.

Air Canada Trading Up 0.1 %

TSE:AC opened at C$18.76 on Friday. The company has a 50 day simple moving average of C$19.01 and a two-hundred day simple moving average of C$18.41. The company has a market cap of C$6.72 billion, a PE ratio of 3.15, a price-to-earnings-growth ratio of 0.02 and a beta of 2.42. Air Canada has a 12 month low of C$16.04 and a 12 month high of C$26.04. The company has a current ratio of 1.02, a quick ratio of 1.06 and a debt-to-equity ratio of 1,741.46.

Air Canada (TSE:AC) last issued its quarterly earnings results on Friday, February 16th. The company reported C($0.12) earnings per share for the quarter, missing the consensus estimate of C($0.05) by C($0.07). The firm had revenue of C$5.18 billion for the quarter, compared to analyst estimates of C$5.05 billion. Research analysts forecast that Air Canada will post 2.9024768 earnings per share for the current year.

Insider Activity

In related news, Senior Officer Mark Youssef Nasr purchased 2,406 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were acquired at an average cost of C$18.21 per share, for a total transaction of C$43,823.37. Company insiders own 0.17% of the company’s stock.

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.