National Bankshares Forecasts Strong Price Appreciation for Air Canada (TSE:AC) Stock

Air Canada (TSE:AC) had its price objective upped by equities research analysts at National Bankshares from C$23.00 to C$24.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bankshares’ price objective would suggest a potential upside of 21.33% from the stock’s previous close.

A number of other analysts also recently issued reports on AC. TD Securities decreased their price objective on shares of Air Canada from C$25.00 to C$22.00 in a report on Friday, September 26th. National Bank Financial lowered shares of Air Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Canaccord Genuity Group dropped their price objective on Air Canada from C$28.00 to C$25.00 and set a “buy” rating on the stock in a research note on Thursday, September 25th. Stifel Nicolaus reduced their price objective on Air Canada from C$25.00 to C$24.00 and set a “buy” rating for the company in a report on Friday, September 26th. Finally, Royal Bank Of Canada set a C$25.00 target price on Air Canada and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$24.23.

Air Canada Stock Performance

Shares of Air Canada stock opened at C$19.78 on Wednesday. The business has a 50-day simple moving average of C$19.00 and a 200 day simple moving average of C$19.31. Air Canada has a one year low of C$12.69 and a one year high of C$23.72. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06. The firm has a market capitalization of C$5.86 billion, a price-to-earnings ratio of -28.67, a PEG ratio of 0.02 and a beta of 1.75.

Air Canada (TSE:AC) last issued its quarterly earnings data on Tuesday, November 4th. The company reported C$0.75 earnings per share (EPS) for the quarter. Air Canada had a net margin of 11.57% and a return on equity of 177.01%. The firm had revenue of C$5.77 billion during the quarter. On average, research analysts anticipate that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

Air Canada Company Profile

Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.