Air Canada (TSE:AC) Shares Up 3.7%

Shares of Air Canada (TSE:AC) were up 3.7% on Wednesday . The stock traded as high as C$19.11 and last traded at C$19.06. Approximately 452,884 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 2,213,698 shares. The stock had previously closed at C$18.38.

Analyst Ratings Changes

Several analysts recently weighed in on AC shares. National Bankshares set a C$31.00 price objective on Air Canada and gave the company an “outperform” rating in a report on Tuesday, March 5th. Canaccord Genuity Group lifted their price objective on Air Canada from C$31.00 to C$32.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. TD Securities lifted their price objective on Air Canada from C$30.00 to C$34.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their price objective on Air Canada from C$38.00 to C$41.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Finally, Scotiabank decreased their price objective on Air Canada from C$30.00 to C$29.00 and set an “outperform” rating for the company in a report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Air Canada currently has a consensus rating of “Moderate Buy” and an average price target of C$30.35.

Air Canada Trading Up 3.3 %

The firm has a market capitalization of C$6.80 billion, a PE ratio of 3.17, a price-to-earnings-growth ratio of 0.02 and a beta of 2.42. The company’s 50-day simple moving average is C$18.64 and its 200 day simple moving average is C$18.31. The company has a quick ratio of 1.06, a current ratio of 1.02 and a debt-to-equity ratio of 1,741.46.

Air Canada (TSE:AC) last posted its quarterly earnings data on Friday, February 16th. The company reported C($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.05) by C($0.07). The firm had revenue of C$5.18 billion for the quarter, compared to analysts’ expectations of C$5.05 billion. As a group, sell-side analysts expect that Air Canada will post 2.9504792 EPS for the current year.

Insider Activity

In related news, Senior Officer Mark Youssef Nasr acquired 2,406 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were purchased at an average price of C$18.21 per share, for a total transaction of C$43,823.37. Corporate insiders own 0.17% of the company’s stock.

Air Canada Company Profile

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.