Air Canada (TSE:AC) Price Target Raised to C$26.50 at Scotiabank

Air Canada (TSE:AC) had its price target upped by equities research analysts at Scotiabank from C$25.00 to C$26.50 in a report issued on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 36.60% from the stock’s current price.

Other analysts also recently issued research reports about the stock. National Bank Financial downgraded shares of Air Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. CIBC reduced 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 note on Friday, September 26th. UBS Group upgraded Air Canada to a “hold” rating in a research report on Tuesday, November 18th. Canaccord Genuity Group decreased their price objective on Air Canada from C$28.00 to C$25.00 and set a “buy” rating on the stock in a research note on Thursday, September 25th. 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 note on Tuesday, November 25th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$24.42.

Air Canada Price Performance

AC stock traded up C$0.65 during midday trading on Wednesday, hitting C$19.40. 2,251,156 shares of the stock were exchanged, compared to its average volume of 2,292,581. The stock’s 50-day moving average price is C$19.05 and its 200-day moving average price is C$19.23. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92. The stock has a market cap of C$5.75 billion, a price-to-earnings ratio of -28.12, a PEG ratio of 0.02 and a beta of 1.75. Air Canada has a fifty-two week low of C$12.69 and a fifty-two week high of C$23.72.

Air Canada (TSE:AC) last announced its quarterly earnings results on Tuesday, November 4th. The company reported C$0.75 earnings per share for the quarter. The business had revenue of C$5.77 billion during the quarter. Air Canada had a return on equity of 177.01% and a net margin of 11.57%. Research analysts predict 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.