TD Cowen Forecasts Strong Price Appreciation for Air Canada (TSE:AC) Stock

Air Canada (TSE:AC - Free Report) had its price target upped by TD Cowen to C$25.00 in a research note published on Wednesday, Stock Target Advisor reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on AC. Raymond James lowered their target price on 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. TD Securities reduced their price objective on shares of Air Canada from C$25.00 to C$19.00 in a research report on Wednesday, July 24th. National Bankshares raised their target price on shares of Air Canada from C$22.00 to C$27.00 in a report on Monday. Cormark increased their price target on shares of Air Canada from C$21.75 to C$26.75 in a research report on Monday. Finally, Scotiabank upped their price target on Air Canada from C$24.00 to C$26.50 in a research note on Monday. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of C$25.25.

Air Canada Stock Up 4.4 %

TSE:AC traded up C$0.98 during trading hours on Wednesday, hitting C$23.16. The stock had a trading volume of 5,795,447 shares, compared to its average volume of 2,370,427. The company has a market cap of C$8.30 billion, a PE ratio of 5.17, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The business has a 50 day simple moving average of C$17.12 and a two-hundred day simple moving average of C$17.45. Air Canada has a 1-year low of C$14.47 and a 1-year high of C$23.21. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99.

Air Canada (TSE:AC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 earnings per share for the quarter, topping the consensus estimate of C$0.85 by C$0.13. The company had revenue of C$5.52 billion during 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%. Analysts predict that Air Canada will post 2.5789474 EPS for the current year.

Insider Buying and Selling at Air Canada

In other news, Senior Officer Christophe Hennebelle bought 1,900 shares of the company's stock in a transaction dated Friday, August 9th. The stock was bought at an average price 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.