Air Canada (TSE:AC) Price Target Lowered to C$28.00 at CIBC

Air Canada (TSE:AC) had its target price cut by CIBC from C$30.00 to C$28.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research analysts also recently weighed in on AC. Royal Bank of Canada set a C$18.00 target price on Air Canada and gave the stock a sector perform rating in a research note on Thursday, April 4th. BMO Capital Markets reiterated a buy rating and issued a C$32.00 target price on shares of Air Canada in a research report on Tuesday, February 20th. National Bankshares set a C$31.00 price target on shares of Air Canada and gave the stock an outperform rating in a research report on Tuesday, March 5th. Scotiabank lowered their price objective on Air Canada from C$30.00 to C$29.00 and set an outperform rating on the stock in a report on Thursday, March 28th. Finally, ATB Capital reduced their target price on Air Canada from C$33.00 to C$32.00 and set an outperform rating for the company in a report on Tuesday, February 20th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Air Canada presently has a consensus rating of Moderate Buy and an average target price of C$30.12.

Air Canada Stock Up 0.4 %

AC opened at C$18.83 on Friday. The company has a fifty day moving average of C$19.02 and a two-hundred day moving average of C$18.44. The stock has a market capitalization of C$6.75 billion, a price-to-earnings ratio of 3.16, a PEG ratio of 0.02 and a beta of 2.42. Air Canada has a fifty-two week low of C$16.04 and a fifty-two week high of C$26.04. The company has a debt-to-equity ratio of 1,741.46, a quick ratio of 1.06 and a current ratio of 1.02.

Air Canada (TSE:AC) last announced its quarterly earnings results on Friday, February 16th. The company reported C($0.12) earnings per share for the quarter, missing the consensus estimate of C($0.05) by C($0.07). The company had revenue of C$5.18 billion during the quarter, compared to analysts’ expectations of C$5.05 billion. On average, research analysts expect that Air Canada will post 2.9024768 earnings per share for the current year.

Insider Buying and Selling at Air Canada

In other news, Senior Officer Mark Youssef Nasr bought 2,406 shares of Air Canada stock in a transaction on Thursday, February 29th. The shares were bought at an average cost of C$18.21 per share, with a total value of C$43,823.37. 0.17% of the stock is owned by company insiders.

Air Canada Company Profile

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.