Air Canada (TSE:AC) Stock Gets Price Target Trim from ATB Cormark Capital Markets

Air Canada (TSE:AC) had its price objective reduced by stock analysts at ATB Cormark Capital Markets from C$45.00 to C$43.00 in a report issued on Tuesday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. ATB Cormark Capital Markets‘s price objective would indicate a potential upside of 96.44% from the company’s previous close.

AC has been the subject of a number of other research reports. Canadian Imperial Bank of Commerce increased their target price on shares of Air Canada from C$26.00 to C$40.00 in a report on Friday, August 14th. National Bank Financial decreased their price target on shares of Air Canada from C$40.00 to C$37.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Canaccord Genuity Group upgraded shares of Air Canada from a “hold” rating to a “buy” rating and lowered their price objective for the stock from C$29.00 to C$25.00 in a research report on Thursday, October 22nd. BMO Capital Markets increased their price objective on shares of Air Canada from C$30.00 to C$37.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group lowered shares of Air Canada from a “hold” rating to a “moderate sell” rating and cut their target price for the company from C$26.00 to C$19.00 in a research report on Monday, October 19th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$32.58.

Air Canada Trading Up 1.6%

TSE:AC traded up C$0.34 during mid-day trading on Tuesday, hitting C$21.89. 1,018,806 shares of the stock traded hands, compared to its average volume of 2,913,459. The firm’s 50 day moving average is C$26.50 and its two-hundred day moving average is C$22.30. Air Canada has a 52 week low of C$16.45 and a 52 week high of C$31.45. The company has a quick ratio of 1.05, a current ratio of 0.60 and a debt-to-equity ratio of 478.10. The stock has a market capitalization of C$5.53 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 0.02 and a beta of 1.86.

Air Canada (TSE:AC) last posted its quarterly 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. On average, equities research analysts predict that Air Canada will post 2.58 earnings per share 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.