Air Canada (TSE:AC) Price Target Increased to C$59.00 by Analysts at CIBC

Air Canada (TSE:AC) had its target price upped by CIBC from C$54.00 to C$59.00 in a research report released on Wednesday, BayStreet.CA reports.

Several other equities research analysts have also recently issued reports on AC. Raymond James restated a market perform rating and set a C$45.00 price objective on shares of Air Canada in a report on Wednesday, October 30th. TD Securities raised their price objective on Air Canada from C$54.00 to C$57.00 and gave the stock a buy rating in a report on Wednesday, October 30th. National Bank Financial raised their price objective on Air Canada from C$55.00 to C$57.00 and gave the stock an outperform rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded Air Canada from a neutral rating to an overweight rating and raised their price objective for the stock from C$50.00 to C$59.00 in a report on Wednesday, November 6th. Finally, Cowen cut Air Canada from an outperform rating to a market perform rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Air Canada has a consensus rating of Buy and an average price target of C$52.50.

TSE:AC traded up C$0.27 during trading hours on Wednesday, reaching C$51.81. 445,715 shares of the company traded hands, compared to its average volume of 1,171,207. The firm’s 50-day moving average is C$49.58 and its 200-day moving average is C$45.81. The stock has a market cap of $13.95 billion and a P/E ratio of 12.94. The company has a debt-to-equity ratio of 231.51, a current ratio of 0.95 and a quick ratio of 0.86. Air Canada has a 1-year low of C$27.69 and a 1-year high of C$52.71.

Air Canada (TSE:AC) last announced its earnings results on Tuesday, October 29th. The company reported C$2.27 EPS for the quarter, missing analysts’ consensus estimates of C$2.34 by C($0.07). The business had revenue of C$5.55 billion during the quarter, compared to analysts’ expectations of C$5.56 billion. As a group, research analysts predict that Air Canada will post 4.6499998 earnings per share for the current year.

In other news, Senior Officer Amos Kazzaz sold 11,697 shares of Air Canada stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of C$46.31, for a total transaction of C$541,683.39. Following the sale, the insider now directly owns 4,523 shares of the company’s stock, valued at C$209,458.32. Also, Senior Officer Lucie Guillemette sold 8,500 shares of Air Canada stock in a transaction dated Monday, November 18th. The stock was sold at an average price of C$49.23, for a total value of C$418,445.65. Following the sale, the insider now directly owns 19,311 shares in the company, valued at C$950,659.29. Over the last ninety days, insiders have sold 59,385 shares of company stock worth $2,895,358.

Air Canada Company Profile

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand name 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.

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Analyst Recommendations for Air Canada (TSE:AC)

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