Air Canada (TSE:AC) Raised to Buy at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Air Canada (TSE:AC) from a hold rating to a buy rating in a research note issued to investors on Monday morning, BayStreet.CA reports. Stifel Nicolaus currently has C$25.50 price objective on the stock, up from their previous price objective of C$20.00.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada reduced their target price on shares of Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. Raymond James reduced their price objective on shares of Air Canada from C$28.00 to C$22.00 and set an “outperform” rating for the company in a research note on Tuesday, July 23rd. TD Securities decreased their target price on shares of Air Canada from C$25.00 to C$19.00 in a research report on Wednesday, July 24th. Jefferies Financial Group upped their price target on Air Canada from C$16.00 to C$18.00 in a research report on Wednesday, October 2nd. Finally, Scotiabank increased their price objective on Air Canada from C$22.00 to C$24.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$24.98.

Air Canada Price Performance

TSE AC opened at C$21.74 on Monday. The company has a market cap of C$7.79 billion, a PE ratio of 4.85, a P/E/G ratio of 0.02 and a beta of 2.39. Air Canada has a 52-week low of C$14.47 and a 52-week high of C$21.97. The company has a debt-to-equity ratio of 1,070.99, a quick ratio of 1.06 and a current ratio of 0.85. The firm’s 50 day moving average price is C$16.84 and its 200-day moving average price is C$17.41.

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

Insider Buying and Selling

In other Air Canada news, Senior Officer Christophe Hennebelle purchased 1,900 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of C$15.70 per share, for a total transaction 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.