Air Canada (TSE:AC) Raised to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Air Canada (TSE:AC) from a neutral rating to an overweight rating in a research report sent to investors on Wednesday, BayStreet.CA reports. JPMorgan Chase & Co. currently has C$59.00 price target on the stock, up from their prior price target of C$50.00.

AC has been the subject of several other reports. Cowen lifted their price objective on shares of Air Canada from C$47.00 to C$50.00 in a research note on Wednesday, July 31st. Canaccord Genuity lifted their price objective on shares of Air Canada from C$45.00 to C$50.00 in a research note on Tuesday, July 23rd. AltaCorp Capital lifted their price objective on shares of Air Canada from C$51.00 to C$56.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. National Bank Financial lifted their price objective on shares of Air Canada from C$55.00 to C$57.00 and gave the stock an outperform rating in a research note on Wednesday, October 2nd. Finally, Raymond James reiterated a market perform rating and set a C$45.00 price objective on shares of Air Canada in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of C$52.42.

Shares of AC opened at C$48.63 on Wednesday. The company has a market cap of $12.89 billion and a price-to-earnings ratio of 12.14. Air Canada has a twelve month low of C$23.50 and a twelve month high of C$49.75. The company has a quick ratio of 0.86, a current ratio of 0.95 and a debt-to-equity ratio of 231.51. The company has a 50 day moving average of C$44.97 and a two-hundred day moving average of C$41.91.

Air Canada (TSE:AC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported C$2.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$2.34 by C($0.07). The firm had revenue of C$5.55 billion for the quarter, compared to analyst estimates of C$5.56 billion. On average, sell-side analysts expect that Air Canada will post 4.8700001 EPS for the current year.

In other Air Canada news, Senior Officer Mark Galardo sold 1,511 shares of Air Canada stock in a transaction on Friday, August 30th. The shares were sold at an average price of C$43.71, for a total value of C$66,045.81. Also, Senior Officer Amos Kazzaz sold 11,697 shares of Air Canada stock in a transaction on Thursday, October 31st. The shares were sold at an average price of C$46.31, for a total transaction of C$541,683.39. Following the completion of the transaction, the insider now directly owns 4,523 shares of the company’s stock, valued at approximately C$209,458.32. Insiders have sold 28,442 shares of company stock valued at $1,271,240 over the last 90 days.

Air Canada Company Profile

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

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Analyst Recommendations for Air Canada (TSE:AC)

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