Air Canada (TSE:AC) Given “Market Perform” Rating at Raymond James

Air Canada (TSE:AC)‘s stock had its “market perform” rating reaffirmed by research analysts at Raymond James in a research report issued to clients and investors on Thursday, Stock Target Advisor reports.

Other equities research analysts have also recently issued research reports about the stock. CIBC reaffirmed a “buy” rating and issued a C$33.00 price target on shares of Air Canada in a report on Monday, August 30th. Cormark set a C$25.45 price target on shares of Air Canada in a report on Monday, July 26th. Canaccord Genuity lifted their price target on shares of Air Canada from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a report on Tuesday, July 13th. TD Securities reduced their price objective on shares of Air Canada from C$34.00 to C$32.00 and set a “na” rating for the company in a research note on Tuesday, July 20th. Finally, Scotiabank upgraded shares of Air Canada from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$28.00 to C$31.00 in a research note on Friday, July 30th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$27.29.

Shares of Air Canada stock traded up C$0.03 during mid-day trading on Thursday, hitting C$23.08. 1,059,757 shares of the stock were exchanged, compared to its average volume of 3,591,392. Air Canada has a 12 month low of C$14.48 and a 12 month high of C$31.00. The company has a 50-day simple moving average of C$23.90 and a 200 day simple moving average of C$25.24. The company has a debt-to-equity ratio of 2,209.01, a quick ratio of 1.01 and a current ratio of 1.09. The company has a market capitalization of C$8.26 billion and a P/E ratio of -1.71.

Air Canada (TSE:AC) last posted its quarterly earnings results on Friday, July 23rd. The company reported C($3.06) EPS for the quarter, missing analysts’ consensus estimates of C($2.54) by C($0.52). The company had revenue of C$837.00 million for the quarter, compared to the consensus estimate of C$859.45 million. Analysts predict that Air Canada will post -0.05 EPS for the current year.

In other news, Senior Officer Craig Landry sold 8,500 shares of the company’s stock in a transaction dated Tuesday, July 27th. The shares were sold at an average price of C$25.29, for a total transaction of C$214,965.00. Following the completion of the transaction, the insider now directly owns 16,385 shares of the company’s stock, valued at C$414,376.65. Also, Senior Officer Arielle Meloul-Wechsler sold 7,023 shares of the company’s stock in a transaction dated Thursday, September 9th. The shares were sold at an average price of C$23.51, for a total transaction of C$165,110.73. Following the transaction, the insider now directly owns 9,165 shares of the company’s stock, valued at C$215,469.15.

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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