Air Canada (TSE:AC) Stock Gets Price Target Reduction from Canaccord Genuity Group

Air Canada (TSE:AC) had its target price decreased by Canaccord Genuity Group from C$33.00 to C$29.00 in a research note issued to investors on Thursday,BayStreet reports. Canaccord Genuity Group currently has a hold rating on the stock.

Other research analysts have also recently issued research reports about the stock. Canadian Imperial Bank of Commerce lifted their price objective on shares of Air Canada from C$26.00 to C$40.00 in a report on Friday, August 14th. ATB Cormark Capital Markets raised their price objective on Air Canada from C$32.00 to C$45.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. BMO Capital Markets boosted their price objective on Air Canada from C$30.00 to C$37.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada upped their target price on Air Canada from C$28.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Finally, Scotia boosted their price target on shares of Air Canada from C$33.50 to C$37.50 and gave the stock a “sector outperform” rating in a report on Wednesday, August 19th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$33.31.

Air Canada Trading Down 5.4%

Shares of TSE:AC opened at C$22.76 on Thursday. The company has a current ratio of 0.60, a quick ratio of 1.05 and a debt-to-equity ratio of 478.10. Air Canada has a 12-month low of C$16.45 and a 12-month high of C$31.45. The business has a 50 day moving average of C$27.58 and a two-hundred day moving average of C$23.42. The company has a market capitalization of C$5.75 billion, a PE ratio of 17.37, a PEG ratio of 0.02 and a beta of 1.86.

Air Canada (TSE:AC) last posted its earnings results on Tuesday, August 11th. The company reported C$0.40 earnings per share for the quarter. Air Canada had a net margin of 1.82% and a return on equity of 16.92%. The firm had revenue of C$6.27 billion during the quarter. As a group, analysts forecast that Air Canada will post 2.58 EPS for the current year.

Air Canada Company Profile

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.