Air Canada (TSE:AC – Free Report) had its price target boosted by Citigroup from C$20.00 to C$21.00 in a report issued on Tuesday morning, BayStreet.CA reports. Citigroup currently has a buy rating on the stock.
Several other brokerages also recently issued reports on AC. CIBC cut their price objective on Air Canada from C$28.00 to C$25.00 and set an “outperform” rating for the company in a research report on Tuesday, July 23rd. Royal Bank of Canada cut their price objective on Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 23rd. ATB Capital cut their price target on Air Canada from C$27.00 to C$26.50 and set an “outperform” rating for the company in a report on Tuesday, September 10th. Cormark cut their price target on Air Canada from C$25.50 to C$21.25 in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group boosted their price target on Air Canada from C$16.00 to C$18.00 in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$23.70.
Read Our Latest Stock Report on AC
Air Canada Trading Up 1.2 %
Air Canada (TSE:AC – Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.85 by C$0.13. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. The firm had revenue of C$5.52 billion during the quarter, compared to the consensus estimate of C$5.55 billion. Sell-side analysts anticipate that Air Canada will post 2.5789474 EPS for the current fiscal year.
Insider Activity
In related news, Senior Officer Christophe Hennebelle acquired 1,900 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of C$15.70 per share, with a total value of C$29,830.00. Corporate insiders own 0.14% of the company’s stock.
About Air Canada
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.
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