TD Securities Cuts Air Canada (TSE:AC) Price Target to C$28.00


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Air Canada (TSE:AC) had its price objective decreased by stock analysts at TD Securities from C$29.00 to C$28.00 in a research note issued to investors on Tuesday, Analyst Price Targets reports. The firm currently has a “hold” rating on the stock. TD Securities’ price target suggests a potential upside of 11.69% from the company’s current price.

Several other analysts have also weighed in on AC. BMO Capital Markets lowered their price objective on Air Canada from C$50.00 to C$33.00 and set an “outperform” rating for the company in a report on Tuesday, March 2nd. National Bankshares lowered their target price on Air Canada from C$31.00 to C$29.00 and set a “sector perform” rating for the company in a report on Wednesday, April 14th. Citigroup boosted their price objective on Air Canada from C$21.00 to C$26.50 in a research report on Tuesday, March 2nd. ATB Capital boosted their price objective on Air Canada from C$27.50 to C$28.00 in a research report on Monday, January 25th. Finally, Raymond James upped their target price on Air Canada from C$30.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Thursday, April 15th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of C$29.10.

Shares of TSE:AC traded down C$0.43 during midday trading on Tuesday, reaching C$25.07. The company’s stock had a trading volume of 2,171,180 shares, compared to its average volume of 4,541,641. The firm has a market cap of C$8.39 billion and a price-to-earnings ratio of -1.52. The company has a quick ratio of 1.14, a current ratio of 1.22 and a debt-to-equity ratio of 757.38. Air Canada has a 1 year low of C$12.80 and a 1 year high of C$31.00. The business has a 50 day moving average price of C$26.29 and a 200 day moving average price of C$23.25.

Air Canada (TSE:AC) last issued its earnings results on Friday, February 12th. The company reported C($4.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of C($2.68) by C($1.40). The company had revenue of C$827.00 million during the quarter, compared to analysts’ expectations of C$836.76 million. Sell-side analysts anticipate that Air Canada will post 0.03 earnings per share for the current fiscal year.

In other Air Canada news, Senior Officer David Shapiro sold 16,973 shares of the firm’s stock in a transaction dated Friday, February 19th. The stock was sold at an average price of C$23.81, for a total transaction of C$404,127.13. Following the transaction, the insider now owns 13,818 shares in the company, valued at C$329,006.58. Also, Senior Officer Amos Kazzaz sold 8,500 shares of the firm’s stock in a transaction dated Monday, February 22nd. The stock was sold at an average price of C$25.07, for a total value of C$213,095.00. Following the transaction, the insider now owns 8,206 shares in the company, valued at approximately C$205,724.42. Over the last 90 days, insiders sold 31,473 shares of company stock valued at $790,468.

About Air Canada

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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