Air Canada (TSE:AC) Raised to “Strong-Buy” at Stifel Canada

Stifel Canada upgraded shares of Air Canada (TSE:AC) from a hold rating to a strong-buy rating in a report published on Sunday, Zacks.com reports.

Several other brokerages have also recently issued reports on AC. Raymond James decreased their target price on shares of Air Canada from C$28.00 to C$22.00 and set an “outperform” rating for the company in a report on Tuesday, July 23rd. Canaccord Genuity Group boosted their price objective on shares of Air Canada from C$25.00 to C$29.00 in a report on Monday. Citigroup lifted their target price on Air Canada from C$20.00 to C$21.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Scotiabank increased their price objective on Air Canada from C$24.00 to C$26.50 in a research report on Monday. Finally, CIBC boosted their target price on Air Canada from C$25.00 to C$27.00 in a research report on Monday. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$24.98.

Air Canada Stock Performance

Shares of Air Canada stock opened at C$21.74 on Friday. Air Canada has a 12 month low of C$14.47 and a 12 month high of C$21.97. The firm has a market capitalization of C$7.79 billion, a P/E ratio of 4.85, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99. The business has a fifty day simple moving average of C$16.84 and a two-hundred day simple moving average of C$17.41.

Air Canada (TSE:AC) last released its earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.85 by C$0.13. Air Canada had a net margin of 7.92% and a return on equity of 603.77%. The firm had revenue of C$5.52 billion during the quarter, compared to analyst estimates of C$5.55 billion. On average, equities analysts forecast that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

Insider Activity at Air Canada

In other news, Senior Officer Christophe Hennebelle acquired 1,900 shares of Air Canada stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of C$15.70 per share, with a total value of C$29,830.00. 0.14% of the stock is currently owned by corporate insiders.

Air Canada Company Profile

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names 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.