Air Canada (TSE:AC) Stock Gets Price Target Reduction from Scotiabank

Air Canada (TSE:AC) had its price target cut by Scotiabank from C$37.50 to C$33.00 in a report issued on Thursday morning,BayStreet reports. They currently have a sector outperform rating on the stock.

AC has been the subject of several other research reports. National Bank Financial raised their price target on shares of Air Canada from C$29.00 to C$40.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Stifel Nicolaus lifted their price target on shares of Air Canada from C$30.00 to C$38.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. UBS Group boosted their price objective on shares of Air Canada from C$24.00 to C$33.00 in a research note on Thursday, August 13th. Scotia increased their price objective on Air Canada from C$33.50 to C$37.50 and gave the company a “sector outperform” rating in a report on Wednesday, August 19th. Finally, BMO Capital Markets raised their target price on Air Canada from C$30.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$33.04.

Air Canada Stock Down 2.1%

Shares of TSE AC opened at C$21.99 on Thursday. The company has a 50 day simple moving average of C$27.19 and a 200 day simple moving average of C$23.57. The firm has a market cap of C$5.56 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 0.02 and a beta of 1.86. Air Canada has a 1 year low of C$16.45 and a 1 year high of C$31.45. The company has a debt-to-equity ratio of 478.10, a current ratio of 0.60 and a quick ratio of 1.05.

Air Canada (TSE:AC) last posted its earnings results on Tuesday, August 11th. The company reported C$0.40 EPS for the quarter. Air Canada had a net margin of 1.82% and a return on equity of 16.92%. The business had revenue of C$6.27 billion for the quarter. On average, research analysts forecast that Air Canada will post 2.58 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.