Air Canada (TSE:AC) Price Target Raised to C$24.00 at National Bankshares

Air Canada (TSE:AC) had its price target raised by analysts at National Bankshares from C$23.00 to C$24.00 in a report released on Wednesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bankshares’ price objective indicates a potential upside of 23.90% from the stock’s current price.

Several other brokerages have also recently weighed in on AC. Stifel Nicolaus reduced their target price on shares of Air Canada from C$25.00 to C$24.00 and set a “buy” rating on the stock in a report on Friday, September 26th. Canaccord Genuity Group decreased their price objective on shares of Air Canada from C$28.00 to C$25.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Royal Bank Of Canada set a C$25.00 target price on Air Canada and gave the company an “outperform” rating in a report on Tuesday, November 25th. BMO Capital Markets decreased their price target on Air Canada from C$28.00 to C$27.00 in a report on Thursday, October 9th. Finally, National Bank Financial cut Air Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.23.

Air Canada Stock Up 0.6%

Shares of Air Canada stock traded up C$0.12 during trading hours on Wednesday, reaching C$19.37. 1,332,526 shares of the company were exchanged, compared to its average volume of 2,270,196. The firm has a market cap of C$5.74 billion, a PE ratio of -28.07, a PEG ratio of 0.02 and a beta of 1.75. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92. Air Canada has a 1 year low of C$12.69 and a 1 year high of C$23.72. The stock’s fifty day moving average is C$18.96 and its 200 day moving average is C$19.30.

Air Canada (TSE:AC) last released its earnings results on Tuesday, November 4th. The company reported C$0.75 earnings per share (EPS) for the quarter. Air Canada had a return on equity of 177.01% and a net margin of 11.57%.The firm had revenue of C$5.77 billion during the quarter. As a group, equities research analysts forecast that Air Canada will post 2.5789474 earnings per share for the current year.

Air Canada Company Profile

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.