Canaccord Genuity Group Issues Positive Forecast for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its price target boosted by analysts at Canaccord Genuity Group from C$20.00 to C$26.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 3.59% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Canadian Imperial Bank of Commerce reduced their price target on shares of Air Canada from C$25.00 to C$22.00 in a report on Wednesday, April 8th. Stifel Nicolaus cut their price objective on shares of Air Canada from C$28.00 to C$25.50 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Jefferies Financial Group lifted their price target on shares of Air Canada from C$17.00 to C$19.00 in a research report on Tuesday, March 31st. JPMorgan Chase & Co. dropped their price objective on shares of Air Canada from C$27.00 to C$23.00 in a report on Monday, May 4th. Finally, Scotiabank lowered Air Canada from an “outperform” rating to a “hold” rating and lowered their target price for the stock from C$27.00 to C$21.00 in a research note on Tuesday, March 10th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$24.19.

Air Canada Stock Performance

AC traded up C$0.49 during mid-day trading on Monday, reaching C$25.10. 2,317,353 shares of the company traded hands, compared to its average volume of 3,016,615. Air Canada has a 52-week low of C$16.45 and a 52-week high of C$25.15. The company has a quick ratio of 1.05, a current ratio of 0.60 and a debt-to-equity ratio of 452.24. The stock has a market capitalization of C$7.21 billion, a P/E ratio of 10.37, a P/E/G ratio of 0.02 and a beta of 2.00. The company’s fifty day moving average price is C$21.30 and its 200-day moving average price is C$19.90.

Air Canada (TSE:AC) last issued its earnings results on Thursday, April 30th. The company reported C($0.05) earnings per share for the quarter. Air Canada had a net margin of 3.46% and a return on equity of 34.23%. The firm had revenue of C$5.79 billion during the quarter. On average, sell-side analysts expect that Air Canada will post 2.5789474 EPS for the current year.

Air Canada Company Profile

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.