Air Canada (TSE:AC) Stock Price Expected to Rise, CIBC Analyst Says

Air Canada (TSE:AC) had its price objective hoisted by equities research analysts at CIBC from C$25.00 to C$27.00 in a research report issued on Monday, BayStreet.CA reports. CIBC’s price target indicates a potential upside of 21.73% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Stifel Canada raised shares of Air Canada to a “hold” rating in a report on Tuesday, October 15th. Scotiabank raised their target price on shares of Air Canada from C$24.00 to C$26.50 in a research note on Monday. Raymond James reduced their price objective on shares of Air Canada from C$28.00 to C$22.00 and set an “outperform” rating for the company in a research note on Tuesday, July 23rd. Stifel Nicolaus upgraded shares of Air Canada from a “hold” rating to a “buy” rating and raised their price objective for the company from C$20.00 to C$25.50 in a research report on Monday. Finally, National Bankshares increased their price target on Air Canada from C$22.00 to C$27.00 in a research note on Monday. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Air Canada presently has an average rating of “Moderate Buy” and an average price target of C$25.27.

Air Canada Stock Performance

Shares of TSE AC opened at C$22.18 on Monday. 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 firm’s 50-day moving average price is C$16.97 and its 200-day moving average price is C$17.42. Air Canada has a 52-week low of C$14.47 and a 52-week high of C$22.25. The company has a market cap of C$7.95 billion, a PE ratio of 4.95, a PEG ratio of 0.02 and a beta of 2.39.

Air Canada (TSE:AC) last released its quarterly earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share (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 the consensus estimate of C$5.55 billion. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. As a group, analysts anticipate that Air Canada will post 2.5789474 EPS for the current year.

Insider Transactions at Air Canada

In related news, Senior Officer Christophe Hennebelle acquired 1,900 shares of the stock in a transaction on Friday, August 9th. The shares were acquired at an average price of C$15.70 per share, for a total transaction of C$29,830.00. Company 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.