Air Canada (TSE:AC) Shares Up 3.7%

Air Canada (TSE:AC) shares shot up 3.7% during trading on Wednesday . The stock traded as high as C$19.11 and last traded at C$19.06. 452,884 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 2,213,698 shares. The stock had previously closed at C$18.38.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. ATB Capital dropped their target price on shares of Air Canada from C$33.00 to C$32.00 and set an “outperform” rating on the stock in a report on Tuesday, February 20th. BMO Capital Markets reaffirmed a “buy” rating and issued a C$32.00 target price on shares of Air Canada in a report on Tuesday, February 20th. TD Securities upped their target price on shares of Air Canada from C$30.00 to C$34.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Scotiabank dropped their target price on shares of 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, National Bankshares set a C$31.00 target price on shares of Air Canada and gave the company an “outperform” rating in a report on Tuesday, March 5th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Air Canada presently has an average rating of “Moderate Buy” and a consensus target price of C$30.35.

Air Canada Price Performance

The stock has a market capitalization of C$6.80 billion, a price-to-earnings ratio of 3.17, a PEG ratio of 0.02 and a beta of 2.42. The business’s fifty day moving average price is C$18.64 and its 200-day moving average price is C$18.31. The company has a debt-to-equity ratio of 1,741.46, a current ratio of 1.02 and a quick ratio of 1.06.

Air Canada (TSE:AC) last issued its quarterly earnings data on Friday, February 16th. The company reported C($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.05) by C($0.07). The firm had revenue of C$5.18 billion for the quarter, compared to analysts’ expectations of C$5.05 billion. On average, research analysts forecast that Air Canada will post 2.9504792 EPS for the current year.

Insider Activity at Air Canada

In other news, Senior Officer Mark Youssef Nasr purchased 2,406 shares of the company’s stock in a transaction that occurred 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 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.