National Bankshares Trims Air Canada (TSE:AC) Target Price to C$22.00

Air Canada (TSE:AC) had its target price lowered by National Bankshares from C$24.00 to C$22.00 in a research report released on Wednesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other analysts have also issued research reports about the stock. Royal Bank of Canada dropped their price target on shares of Air Canada from C$18.00 to C$17.00 and set a sector perform rating on the stock in a research report on Tuesday, July 23rd. Cormark dropped their price target on shares of Air Canada from C$25.50 to C$21.25 in a research report on Tuesday, July 23rd. Raymond James dropped their price target on shares of Air Canada from C$28.00 to C$22.00 and set an outperform rating on the stock in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. dropped their target price on shares of Air Canada from C$41.00 to C$36.00 in a research report on Thursday, August 8th. Finally, BMO Capital Markets dropped their target price on shares of Air Canada from C$33.00 to C$28.00 and set an outperform rating on the stock in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Canada presently has an average rating of Moderate Buy and a consensus price target of C$23.60.

Air Canada Stock Down 0.9 %

TSE:AC opened at C$16.52 on Wednesday. The firm has a market capitalization of C$5.92 billion, a P/E ratio of 3.69, a PEG ratio of 0.02 and a beta of 2.39. Air Canada has a 1-year low of C$14.47 and a 1-year high of C$20.47. The company’s fifty day moving average price is C$15.82 and its 200-day moving average price is C$17.55. The company has a debt-to-equity ratio of 1,070.99, a current ratio of 0.85 and a quick ratio of 1.06.

Air Canada (TSE:AC) last released its quarterly earnings results on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, beating the consensus estimate of C$0.85 by C$0.13. The company had revenue of C$5.52 billion for the quarter, compared to analyst estimates of C$5.55 billion. Air Canada had a net margin of 7.92% and a return on equity of 603.77%. As a group, equities research analysts anticipate that Air Canada will post 2.8336192 EPS for the current year.

Insider Transactions at Air Canada

In other Air Canada news, Senior Officer Christophe Hennebelle purchased 1,900 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of C$15.70 per share, with a total value of C$29,830.00. Insiders own 0.14% of the company’s stock.

About Air Canada

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.