TD Securities Cuts Air Canada (TSE:AC) Price Target to C$29.00


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Air Canada (TSE:AC) had its price objective cut by TD Securities from C$31.00 to C$29.00 in a research note issued to investors on Tuesday, Analyst Price Targets reports. They currently have a hold rating on the stock.

A number of other equities analysts have also recently commented on AC. CIBC lifted their price objective on shares of Air Canada from C$28.00 to C$34.00 and gave the stock a buy rating in a research report on Friday, April 9th. Royal Bank of Canada reduced their target price on shares of Air Canada to C$25.00 and set an outperform rating for the company in a research report on Wednesday, February 17th. National Bankshares cut shares of Air Canada from an outperform rating to a sector perform rating and boosted their target price for the company from C$26.00 to C$31.00 in a research report on Thursday, April 8th. Cormark boosted their target price on shares of Air Canada from C$22.00 to C$25.00 in a research report on Friday, December 18th. Finally, Citigroup upped their price objective on shares of Air Canada from C$21.00 to C$26.50 in a research report on Tuesday, March 2nd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of C$29.23.

Shares of AC opened at C$25.43 on Tuesday. The company has a market cap of C$8.51 billion and a price-to-earnings ratio of -1.54. Air Canada has a 1-year low of C$12.80 and a 1-year high of C$31.00. The company’s fifty day simple moving average is C$27.10 and its 200 day simple moving average is C$22.44. The company has a current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 757.38.

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 for the quarter, compared to analyst estimates of C$836.76 million. As a group, research analysts forecast that Air Canada will post 0.12 earnings per share for the current year.

In related news, Senior Officer Lucie Guillemette acquired 3,479 shares of the firm’s stock in a transaction that occurred on Friday, February 26th. The shares were bought at an average cost of C$24.50 per share, for a total transaction of C$85,239.67. Following the completion of the transaction, the insider now owns 35,833 shares in the company, valued at C$877,951.50. Also, Senior Officer Amos Kazzaz sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of C$25.07, for a total transaction of C$213,095.00. Following the completion of the transaction, the insider now owns 8,206 shares in the company, valued at C$205,724.42. Over the last three months, insiders sold 31,473 shares of company stock worth $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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