Brokerages Set Air Canada (TSE:AC) Price Target at C$29.07

Air Canada (TSE:AC) has earned a consensus recommendation of “Buy” from the sixteen research firms that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$29.07.

A number of research analysts recently commented on AC shares. National Bankshares raised Air Canada from a “sector perform” rating to a “buy” rating and boosted their price target for the company from C$28.00 to C$29.00 in a research note on Wednesday, November 3rd. Citigroup started coverage on Air Canada in a research note on Friday, September 10th. They issued a “neutral” rating and a C$25.00 price target for the company. ATB Capital boosted their price target on Air Canada from C$33.00 to C$34.00 and gave the company a “buy” rating in a research note on Wednesday, November 3rd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a C$33.00 price target on shares of Air Canada in a research note on Tuesday, November 2nd. Finally, Cowen boosted their price target on Air Canada from C$27.00 to C$32.00 and gave the company an “outperform” rating in a research note on Wednesday, November 3rd.

In related news, Senior Officer Arielle Meloul-Wechsler sold 7,023 shares of Air Canada stock in a transaction that occurred on Thursday, September 9th. The stock was sold at an average price of C$23.51, for a total value of C$165,110.73. Following the transaction, the insider now directly owns 9,165 shares of the company’s stock, valued at C$215,469.15. Also, Senior Officer Chris Isford sold 11,500 shares of the business’s stock in a transaction that occurred on Monday, November 8th. The shares were sold at an average price of C$26.50, for a total value of C$304,750.00. Following the completion of the transaction, the insider now directly owns 25,595 shares in the company, valued at C$678,267.50.

Shares of AC traded up C$0.10 during midday trading on Friday, reaching C$23.34. 505,481 shares of the stock were exchanged, compared to its average volume of 3,498,736. The company has a market cap of C$8.35 billion and a P/E ratio of -1.82. The stock’s 50 day simple moving average is C$23.72 and its 200 day simple moving average is C$24.89. Air Canada has a twelve month low of C$19.37 and a twelve month high of C$31.00. The company has a quick ratio of 1.54, a current ratio of 1.60 and a debt-to-equity ratio of 11,504.83.

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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