JPMorgan Chase upgraded shares of Air Canada (TSE:AC) from a neutral rating to an outperform rating in a research report released on Tuesday morning.
Other analysts have also recently issued reports about the company. TD Securities raised their price objective on Air Canada from C$34.00 to C$38.00 and gave the company an action list buy rating in a research report on Tuesday, May 1st. Scotiabank raised Air Canada from a sector perform rating to an outperform rating and raised their price objective for the company from C$29.25 to C$32.00 in a research report on Tuesday, February 20th. Macquarie raised Air Canada from a neutral rating to an outperform rating and raised their price objective for the company from C$28.00 to C$35.00 in a research report on Tuesday, February 20th. Finally, National Bank Financial cut their price objective on Air Canada from C$33.00 to C$32.00 and set an outperform rating for the company in a research report on Tuesday, April 10th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Air Canada currently has an average rating of Buy and a consensus target price of C$34.30.
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AC opened at C$24.32 on Tuesday. Air Canada has a 12-month low of C$16.51 and a 12-month high of C$29.11.
Air Canada (TSE:AC) last released its quarterly earnings data on Monday, April 30th. The company reported C($0.19) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C($0.49) by C$0.30. Air Canada had a return on equity of 113.41% and a net margin of 7.67%. The company had revenue of C$4.07 billion during the quarter, compared to analysts’ expectations of C$4 billion.
In other news, Director Madeleine Paquin purchased 4,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was acquired at an average cost of C$26.02 per share, with a total value of C$117,090.00. Also, insider Richard A. Steer purchased 2,256 shares of the company’s stock in a transaction that occurred on Wednesday, May 2nd. The shares were purchased at an average cost of C$25.07 per share, with a total value of C$56,557.92. Over the last three months, insiders have purchased 9,256 shares of company stock valued at $239,898 and have sold 26,245 shares valued at $712,463.
Air Canada Company Profile
Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Express 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.