National Bankshares Raises Air Canada (TSE:AC) Price Target to C$24.00

Air Canada (TSE:AC) had its price target lifted by equities researchers at National Bankshares from C$23.00 to C$24.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bankshares’ target price indicates a potential upside of 23.90% from the company’s current price.

Several other research firms have also commented on AC. UBS Group raised shares of Air Canada to a “hold” rating in a report on Tuesday, November 18th. National Bank Financial downgraded Air Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Royal Bank Of Canada set a C$25.00 target price on Air Canada and gave the company an “outperform” rating in a report on Tuesday, November 25th. Stifel Nicolaus cut their price target on Air Canada from C$25.00 to C$24.00 and set a “buy” rating on the stock in a report on Friday, September 26th. Finally, BMO Capital Markets lowered their price objective on Air Canada from C$28.00 to C$27.00 in a research note on Thursday, October 9th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$24.23.

Air Canada Stock Performance

Shares of TSE AC traded up C$0.12 during trading on Wednesday, reaching C$19.37. The stock had a trading volume of 1,332,526 shares, compared to its average volume of 2,270,196. 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$5.74 billion, a PE ratio of -28.07, a P/E/G ratio of 0.02 and a beta of 1.75. Air Canada has a one year low of C$12.69 and a one year high of C$23.72. The firm’s 50 day moving average price is C$18.96 and its two-hundred day moving average price is C$19.30.

Air Canada (TSE:AC) last released its quarterly earnings data on Tuesday, November 4th. The company reported C$0.75 EPS for the quarter. Air Canada had a net margin of 11.57% and a return on equity of 177.01%. The firm had revenue of C$5.77 billion during the quarter. On average, research analysts forecast that Air Canada will post 2.5789474 earnings per share for the current fiscal 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.