UBS Group Upgrades Air Canada (TSE:AC) to Hold

Air Canada (TSE:AC) was upgraded by analysts at UBS Group to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms have also recently weighed in on AC. National Bankshares cut Air Canada from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from C$26.00 to C$22.00 in a report on Wednesday, September 24th. CIBC dropped their target price on Air Canada from C$24.00 to C$22.00 and set an “outperform” rating on the stock in a research report on Friday, September 26th. Stifel Nicolaus cut their price target on Air Canada from C$25.00 to C$24.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Raymond James Financial upped their price target on shares of Air Canada from C$24.00 to C$27.00 and gave the company a “moderate buy” rating in a research report on Tuesday, July 22nd. Finally, Royal Bank Of Canada set a C$25.00 target price on shares of Air Canada and gave the company an “outperform” rating in a research report on Thursday, October 9th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Air Canada presently has a consensus rating of “Moderate Buy” and an average price target of C$24.46.

Air Canada Stock Performance

Shares of AC stock opened at C$17.84 on Tuesday. The firm has a market capitalization of C$5.28 billion, a price-to-earnings ratio of -25.86, a PEG ratio of 0.02 and a beta of 1.49. The stock has a fifty day moving average of C$18.38 and a 200 day moving average of C$19.14. Air Canada has a 52 week low of C$12.69 and a 52 week high of C$26.18. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00.

Air Canada (TSE:AC) last announced its earnings results on Tuesday, November 4th. The company reported C$0.88 earnings per share for the quarter. Air Canada had a net margin of 11.57% and a return on equity of 177.01%. The business had revenue of C$5.77 billion during the quarter. As a group, research analysts expect that Air Canada will post 2.5789474 earnings per share for the current year.

About Air Canada

Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.