Brokerages Set Air Canada (TSE:AC) PT at C$50.63

Air Canada (TSE:AC) has received a consensus recommendation of “Buy” from the twelve research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is C$50.63.

A number of equities research analysts have recently issued reports on the stock. Raymond James upped their target price on shares of Air Canada from C$38.00 to C$44.50 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lowered shares of Air Canada from an “overweight” rating to a “neutral” rating and upped their target price for the stock from C$42.00 to C$50.00 in a report on Friday, August 2nd. Royal Bank of Canada upped their target price on shares of Air Canada from C$48.00 to C$57.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. CIBC upped their target price on shares of Air Canada from C$50.00 to C$53.00 in a report on Wednesday, July 31st. Finally, National Bank Financial upped their target price on shares of Air Canada from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st.

In related news, Senior Officer Samuel Elfassy sold 5,418 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of C$43.99, for a total value of C$238,333.49. Following the completion of the sale, the insider now owns 13,675 shares of the company’s stock, valued at C$601,552.31. Also, Senior Officer John Alec Macleod sold 2,500 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of C$41.79, for a total transaction of C$104,475.00. Following the completion of the sale, the insider now directly owns 477 shares of the company’s stock, valued at approximately C$19,933.83. Insiders sold 991,701 shares of company stock valued at $44,027,690 in the last three months.

Shares of Air Canada stock traded down C$0.80 during trading hours on Friday, reaching C$43.10. 1,355,245 shares of the company’s stock were exchanged, compared to its average volume of 1,160,836. Air Canada has a 1 year low of C$22.57 and a 1 year high of C$47.43. The company has a market capitalization of $11.74 billion and a P/E ratio of 10.28. The business has a fifty day moving average of C$43.65 and a two-hundred day moving average of C$37.35. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 280.78.

Air Canada (TSE:AC) last released its earnings results on Tuesday, July 30th. The company reported C$0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.76 by C$0.12. The business had revenue of C$4.76 billion for the quarter, compared to analysts’ expectations of C$4.68 billion. As a group, research analysts predict that Air Canada will post 4.9299998 EPS for the current year.

Air Canada Company Profile

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand name 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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Analyst Recommendations for Air Canada (TSE:AC)

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