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

Air Canada (TSE:AC) had its price target decreased by CIBC from C$30.00 to C$28.00 in a research report report published on Friday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other analysts have also weighed in on the stock. BMO Capital Markets reiterated a buy rating and set a C$32.00 target price on shares of Air Canada in a research report on Tuesday, February 20th. TD Securities lifted their price objective on Air Canada from C$30.00 to C$34.00 and gave the company a buy rating in a report on Wednesday, February 21st. ATB Capital cut their target price on 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. Scotiabank decreased their price target 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. Finally, Canaccord Genuity Group increased their price objective on 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. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Air Canada presently has a consensus rating of Moderate Buy and an average target price of C$30.12.

Air Canada Stock Performance

Shares of AC opened at C$18.76 on Friday. The company has a debt-to-equity ratio of 1,741.46, a current ratio of 1.02 and a quick ratio of 1.06. The company’s fifty day moving average price is C$19.01 and its 200 day moving average price is C$18.43. The company has a market capitalization 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 one year low of C$16.04 and a one year high of C$26.04.

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

Insider Activity

In related news, Senior Officer Mark Youssef Nasr bought 2,406 shares of Air Canada stock in a transaction on Thursday, February 29th. The shares were purchased at an average price of C$18.21 per share, for a total transaction of C$43,823.37. 0.17% of the stock is currently owned by company insiders.

About Air Canada

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.