Air Canada (TSE:AC) Receives C$24.50 Consensus Price Target from Brokerages

Shares of Air Canada (TSE:AC) have earned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$24.50.

AC has been the subject of a number of research reports. Canadian Imperial Bank of Commerce raised their price objective on Air Canada from C$23.00 to C$24.00 in a research report on Wednesday, January 21st. Scotiabank downgraded Air Canada from an “outperform” rating to a “hold” rating and dropped their target price for the company from C$27.00 to C$21.00 in a report on Tuesday, March 10th. Royal Bank Of Canada set a C$25.00 price target on shares of Air Canada and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Raymond James Financial downgraded shares of Air Canada from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Canaccord Genuity Group downgraded shares of Air Canada from a “buy” rating to a “hold” rating and cut their target price for the stock from C$28.00 to C$21.00 in a research report on Friday, March 13th.

Air Canada Price Performance

Shares of TSE:AC opened at C$17.34 on Friday. The company’s fifty day moving average is C$19.33 and its two-hundred day moving average is C$18.92. The company has a quick ratio of 1.06, a current ratio of 0.56 and a debt-to-equity ratio of 446.78. Air Canada has a 12-month low of C$12.69 and a 12-month high of C$23.72. The company has a market cap of C$5.11 billion, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 0.02 and a beta of 1.56.

Air Canada Company Profile

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.