Air Canada (AC) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Air Canada (TSE:AC) have received a consensus recommendation of “Buy” from the twelve research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$32.40.

Several research firms have recently weighed in on AC. Scotiabank upgraded Air Canada from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$29.25 to C$32.00 in a research note on Tuesday, February 20th. CIBC upped their price objective on Air Canada from C$36.00 to C$38.00 in a research note on Thursday, January 4th. JPMorgan Chase upped their price objective on Air Canada from C$27.00 to C$30.00 in a research note on Tuesday, March 13th. TD Securities upped their price objective on Air Canada from C$34.00 to C$36.00 and gave the company an “action list buy” rating in a research note on Wednesday, February 21st. Finally, National Bank Financial reiterated an “outperform market weight” rating on shares of Air Canada in a research note on Sunday, January 14th.

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In related news, insider Carolyn Hadrovic sold 3,500 shares of the stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of C$28.07, for a total transaction of C$98,245.00. Also, insider Pierre Houle sold 2,238 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of C$26.11, for a total value of C$58,434.18. Over the last 90 days, insiders have sold 26,115 shares of company stock worth $709,400.

AC traded up C$0.07 on Wednesday, hitting C$25.88. 165,504 shares of the stock traded hands, compared to its average volume of 1,284,625. Air Canada has a 52 week low of C$12.49 and a 52 week high of C$29.11.

Air Canada (TSE:AC) last released its quarterly earnings data on Friday, February 16th. The company reported C$0.22 earnings per share for the quarter, beating the consensus estimate of C$0.17 by C$0.05. Air Canada had a return on equity of 113.41% and a net margin of 7.67%. The company had revenue of C$3.82 billion for the quarter, compared to analyst estimates of C$3.75 billion.

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About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Express 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.

Analyst Recommendations for Air Canada (TSE:AC)

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