Air Canada (TSE:AC) Upgraded by Stifel Canada to Strong-Buy Rating

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

A number of other analysts have also weighed in on the stock. BMO Capital Markets raised their target price on shares of Air Canada from C$28.00 to C$29.00 in a research report on Monday. Scotiabank boosted their target price on shares of Air Canada from C$24.00 to C$26.50 in a report on Monday. 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 for the company in a research note on Tuesday, July 23rd. National Bankshares boosted their price objective on shares of Air Canada from C$22.00 to C$27.00 in a research note on Monday. Finally, Canaccord Genuity Group raised their target price on Air Canada from C$25.00 to C$29.00 in a research report on Monday. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Air Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of C$24.98.

Air Canada Stock Performance

TSE AC opened at C$21.74 on Friday. The company has a quick ratio of 1.06, a current ratio of 0.85 and a debt-to-equity ratio of 1,070.99. Air Canada has a 12-month low of C$14.47 and a 12-month high of C$21.97. The firm has a 50-day moving average price of C$16.84 and a two-hundred day moving average price of C$17.41. The company 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.

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

Insider Buying and Selling at Air Canada

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