Air Canada (TSE:AC) Price Target Raised to C$22.00 at Jefferies Financial Group

Air Canada (TSE:AC) had its price objective hoisted by investment analysts at Jefferies Financial Group from C$18.00 to C$22.00 in a note issued to investors on Tuesday, BayStreet.CA reports. Jefferies Financial Group’s target price suggests a potential downside of 0.68% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Raymond James lowered their price target on shares of Air Canada from C$28.00 to C$22.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. CIBC lifted their target price on Air Canada from C$25.00 to C$27.00 in a report on Monday. Canaccord Genuity Group upped their price target on shares of Air Canada from C$25.00 to C$29.00 in a report on Monday. National Bankshares upped their price objective on Air Canada from C$22.00 to C$27.00 in a research report on Monday. Finally, Scotiabank raised their target price on shares of Air Canada from C$24.00 to C$26.50 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Air Canada currently has an average rating of “Moderate Buy” and a consensus price target of C$25.27.

Air Canada Price Performance

AC stock traded up C$0.41 during mid-day trading on Tuesday, hitting C$22.15. The company had a trading volume of 2,866,211 shares, compared to its average volume of 2,345,628. The company has a market capitalization of C$7.94 billion, a price-to-earnings ratio of 4.94, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a 50-day moving average price of C$16.84 and a 200 day moving average price of C$17.41. 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. Air Canada has a 12-month low of C$14.47 and a 12-month high of C$22.21.

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

Insider Activity

In other news, Senior Officer Christophe Hennebelle purchased 1,900 shares of the business’s stock in a transaction on Friday, August 9th. The shares were acquired at an average cost of C$15.70 per share, with a total value of C$29,830.00. Company 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.