Air Canada (TSE:AC) Given New C$29.00 Price Target at Canaccord Genuity Group

Air Canada (TSE:AC) had its price target cut by Canaccord Genuity Group from C$33.00 to C$29.00 in a research note issued to investors on Thursday, BayStreet reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 20.43% from the company’s previous close.

Other research analysts have also issued reports about the stock. Royal Bank Of Canada boosted their price objective on shares of Air Canada from C$28.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. BMO Capital Markets raised their target price on shares of Air Canada from C$30.00 to C$37.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. ATB Cormark Capital Markets lifted their price target on Air Canada from C$32.00 to C$45.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Scotia boosted their price target on Air Canada from C$33.50 to C$37.50 and gave the stock a “sector outperform” rating in a research report on Wednesday, August 19th. Finally, National Bank Financial upped their price objective on Air Canada from C$29.00 to C$40.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Air Canada currently has a consensus rating of “Moderate Buy” and an average target price of C$33.31.

Air Canada Stock Down 3.7%

Shares of TSE AC traded down C$0.92 during trading hours on Thursday, hitting C$24.08. The company had a trading volume of 1,896,244 shares, compared to its average volume of 2,901,855. Air Canada has a 1-year low of C$16.45 and a 1-year high of C$31.45. The company has a quick ratio of 1.05, a current ratio of 0.60 and a debt-to-equity ratio of 478.10. The firm’s 50 day moving average is C$27.67 and its 200-day moving average is C$23.38. The stock has a market capitalization of C$6.09 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 0.02 and a beta of 1.86.

Air Canada (TSE:AC) last issued its earnings results on Tuesday, August 11th. The company reported C$0.40 earnings per share for the quarter. Air Canada had a net margin of 1.82% and a return on equity of 16.92%. The business had revenue of C$6.27 billion for the quarter. On average, analysts expect that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

About Air Canada

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.