National Bankshares Cuts Air Canada (TSE:AC) Price Target to C$28.00

Air Canada (TSE:AC) had its target price reduced by National Bankshares from C$30.00 to C$28.00 in a report issued on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group decreased their price target on shares of Air Canada from C$20.00 to C$19.00 in a research note on Thursday, June 20th. Royal Bank of Canada set a C$18.00 price objective on shares of Air Canada and gave the stock a sector perform rating in a research note on Thursday, April 4th. CIBC reduced their price objective on shares of Air Canada from C$30.00 to C$28.00 and set an outperform rating for the company in a research note on Friday, May 3rd. ATB Capital boosted their price objective on shares of Air Canada from C$32.00 to C$33.00 in a research note on Friday, May 3rd. Finally, TD Securities reduced their price objective on shares of Air Canada from C$34.00 to C$33.00 and set a buy rating for the company in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of C$29.18.

Air Canada Stock Performance

Air Canada stock opened at C$17.80 on Wednesday. The company has a 50 day moving average price of C$18.30 and a 200-day moving average price of C$18.53. The company has a debt-to-equity ratio of 1,767.66, a quick ratio of 1.06 and a current ratio of 0.85. Air Canada has a fifty-two week low of C$16.04 and a fifty-two week high of C$26.04. The company has a market capitalization of C$6.38 billion, a PE ratio of 3.08, a P/E/G ratio of 0.02 and a beta of 2.40.

Air Canada (TSE:AC) last posted its quarterly earnings results on Thursday, May 2nd. The company reported C($0.27) earnings per share for the quarter, missing the consensus estimate of C($0.15) by C($0.12). The firm had revenue of C$5.23 billion for the quarter, compared to analysts’ expectations of C$5.13 billion. As a group, equities analysts forecast that Air Canada will post 3.1906412 earnings per share for the current year.

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.