Air Canada (TSE:AC) Price Target Cut to C$30.00

Air Canada (TSE:AC) had its price objective reduced by National Bankshares from C$31.00 to C$30.00 in a research report sent to investors on Friday, BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

Several other analysts have also issued reports on the company. CIBC dropped their target price on Air Canada from C$30.00 to C$28.00 and set an outperform rating on the stock in a report on Friday. Scotiabank dropped their price objective on Air Canada from C$30.00 to C$29.00 and set an outperform rating on the stock in a research note on Thursday, March 28th. Royal Bank of Canada set a C$18.00 target price on shares of Air Canada and gave the company a sector perform rating in a research note on Thursday, April 4th. TD Securities upped their price target on shares of Air Canada from C$30.00 to C$34.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Finally, ATB Capital decreased their price objective on shares of Air Canada from C$33.00 to C$32.00 and set an outperform rating for the company in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Air Canada has an average rating of Moderate Buy and an average target price of C$30.12.

Air Canada Price Performance

Shares of AC opened at C$18.76 on Friday. The company has a 50 day moving average of C$19.01 and a 200-day moving average of C$18.43. The company has a quick ratio of 1.06, a current ratio of 1.02 and a debt-to-equity ratio of 1,741.46. The stock has a market capitalization of C$6.72 billion, a P/E ratio of 3.15, a P/E/G ratio of 0.02 and a beta of 2.42. Air Canada has a twelve month low of C$16.04 and a twelve month high of C$26.04.

Air Canada (TSE:AC) last issued its quarterly earnings results on Friday, February 16th. The company reported C($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.05) by C($0.07). The business had revenue of C$5.18 billion for the quarter, compared to analysts’ expectations of C$5.05 billion. As a group, equities research analysts forecast that Air Canada will post 2.9024768 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Mark Youssef Nasr purchased 2,406 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average cost of C$18.21 per share, with a total value 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.