Air Canada (TSE:AC) Stock Price Up 12.1% – What’s Next?

Shares of Air Canada (TSE:AC) shot up 12.1% on Friday . The stock traded as high as C$21.25 and last traded at C$21.15. 4,200,753 shares changed hands during trading, an increase of 86% from the average session volume of 2,252,881 shares. The stock had previously closed at C$18.87.

Analysts Set New Price Targets

A number of equities research analysts have commented on AC shares. JPMorgan Chase & Co. decreased their price target on Air Canada from C$41.00 to C$36.00 in a research note on Thursday, August 8th. TD Securities decreased their price objective on shares of Air Canada from C$25.00 to C$19.00 in a research report on Wednesday, July 24th. Stifel Canada upgraded shares of Air Canada to a “hold” rating in a research note on Tuesday, October 15th. ATB Capital cut their price target on shares of Air Canada from C$27.00 to C$26.50 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. Finally, Citigroup lifted their price objective on shares of Air Canada from C$20.00 to C$21.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$23.70.

Air Canada Trading Up 14.0 %

The company has a quick ratio of 1.06, a current ratio of 0.85 and a debt-to-equity ratio of 1,070.99. The company’s 50-day moving average is C$16.71 and its 200 day moving average is C$17.39. The company has a market cap of C$7.71 billion, a price-to-earnings ratio of 4.80, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39.

Air Canada (TSE:AC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, beating the consensus estimate of C$0.85 by C$0.13. The company had revenue of C$5.52 billion for the quarter, compared to analyst estimates of C$5.55 billion. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. Research analysts predict that Air Canada will post 2.5789474 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Christophe Hennebelle purchased 1,900 shares of Air Canada stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of C$15.70 per share, for a total transaction of C$29,830.00. 0.14% of the stock is owned by insiders.

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.