Air Canada (TSE:AC) Raised to Strong-Buy at Stifel Canada

Stifel Canada upgraded shares of Air Canada (TSE:AC) from a hold rating to a strong-buy rating in a report issued on Sunday morning, Zacks.com reports. Stifel Canada also issued estimates for Air Canada’s Q4 2024 earnings at $0.43 EPS, FY2024 earnings at $3.71 EPS and FY2025 earnings at $3.47 EPS.

A number of other equities analysts have also commented on AC. BMO Capital Markets increased their price target on shares of Air Canada from C$28.00 to C$29.00 in a report on Monday. CIBC increased their target price on shares of Air Canada from C$25.00 to C$27.00 in a report on Monday. Scotiabank lifted their target price on shares of Air Canada from C$24.00 to C$26.50 in a research report on Monday. Raymond James decreased their target price on shares of Air Canada from C$28.00 to C$22.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 23rd. Finally, Canaccord Genuity Group lifted their target price on shares of Air Canada from C$25.00 to C$29.00 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$25.25.

Air Canada Price Performance

Shares of TSE:AC opened at C$23.16 on Friday. The company’s fifty day moving average price is C$17.12 and its 200-day moving average price is C$17.45. The firm has a market capitalization of C$8.30 billion, a price-to-earnings ratio of 5.17, a PEG ratio of 0.02 and a beta of 2.39. Air Canada has a one year low of C$14.47 and a one year high of C$23.21. The company has a debt-to-equity ratio of 1,070.99, a current ratio of 0.85 and a quick ratio of 1.06.

Air Canada (TSE:AC) last issued its quarterly earnings results on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, topping analysts’ consensus estimates of C$0.85 by C$0.13. The firm had revenue of C$5.52 billion for the quarter, compared to analyst estimates of C$5.55 billion. Air Canada had a net margin of 7.92% and a return on equity of 603.77%. On average, equities research analysts anticipate that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

Insider Buying and Selling at Air Canada

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 shares were bought at an average price of C$15.70 per share, for a total transaction of C$29,830.00. Corporate insiders own 0.14% of the company’s stock.

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.