Air Canada (TSE:AC) Price Target Increased to C$27.00

On November 7th, 2024, Air Canada (TSE:AC) received a price target increase from CIBC, moving from C$25.00 to C$27.00. This adjustment was reported by BayStreet.CA on Monday morning.

Additionally, several other analysts have recently provided their insights on Air Canada’s stock performance. For instance, Jefferies Financial Group raised their price target from C$16.00 to C$18.00 on October 2nd. Cormark also issued an update, raising their price target from C$21.75 to C$26.75. Meanwhile, on July 23rd, Raymond James decreased their price target from C$28.00 to C$22.00, while still maintaining an "outperform" rating. The same day, the Royal Bank of Canada lowered their target from C$18.00 to C$17.00 but retained a "sector perform" rating. In another report on October 15th, Citigroup raised their price objective from C$20.00 to C$21.00, giving Air Canada a “buy” rating.

Currently, two analysts have recommended holding the stock, twelve analysts suggest buying, and one analyst has given a strong buy rating. According to data from MarketBeat.com, Air Canada has a consensus rating of “Moderate Buy” with a consensus target price of C$25.25.

Air Canada Stock Performance

On the same day the price target was raised, Air Canada shares opened at C$23.16. The company has key financial ratios of a current ratio of 0.85, a quick ratio of 1.06, and an impressive debt-to-equity ratio of 1,070.99. Over the past year, the stock has reached a low of C$14.47 and a high of C$23.21. The 50-day moving average price stands at C$17.12, with the 200-day moving average at C$17.45. Presently, Air Canada’s market cap is C$8.30 billion, with a price-to-earnings ratio of 5.17 and a PEG ratio of 0.02.

Recent Earnings Results

Air Canada recently announced its quarterly earnings on August 7th. They reported an earnings per share (EPS) of C$0.98, which exceeded the analysts’ expectations of C$0.85 by C$0.13. The company noted a net margin of 7.92% and a remarkable return on equity of 603.77%. In terms of revenue, Air Canada posted C$5.52 billion against a consensus estimate of C$5.55 billion. Analysts predict that the company will achieve 2.58 earnings per share for the current year.

Insider Trading Activity

In related news, Senior Officer Christophe Hennebelle purchased 1,900 shares of Air Canada’s stock on August 9th, acquiring them at an average of C$15.70 per share, totaling approximately C$29,830. Currently, corporate insiders hold about 0.14% of Air Canada’s stock.

About Air Canada

Air Canada specializes in providing airline services for domestic, U.S. transborder, and international operations. It operates scheduled passenger services under its notable brand names, which include Air Canada Vacations and Air Canada Rouge, catering to both the Canadian market and international destinations.

Air, Canada, Stock