Air Canada - AC Stock Forecast, Price & News

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. As of December 31, 2021, the company operated a fleet of 175 aircraft under the Air Canada mainline brand name comprising 97 Boeing and Airbus narrow-body aircraft, and 78 Boeing and Airbus wide-body aircraft; 123 aircraft under the Air Canada Express brand name, including 50 Mitsubishi regional jets, 48 De Havilland Dash-8 turboprop aircraft and 25 Embraer 175 aircraft; and 39 aircraft under the Air Canada Rouge brand name consisting of 14 Airbus A321 aircraft, 5 Airbus A320 aircraft, and 20 Airbus A319 aircraft. It also provides air cargo services in domestic and U.S. transborder routes, as well as on international routes between Canada and markets in Europe, Asia, South America, and Australia. In addition, the company operates, develops, markets, and distributes vacation travel packages in the Caribbean, Mexico, the United States, Europe, Central and South America, South Pacific, Australia, and Asia; offers cruise packages in North America, Europe, and the Caribbean; and provides travel loyalty programs. Air Canada was founded in 1937 and is headquartered in Saint-Laurent, Canada.

Air Canada Stock Performance

Shares of TSE:AC traded up C$0.16 during mid-day trading on Thursday, hitting C$18.77. 1,817,288 shares of the company were exchanged, compared to its average volume of 3,197,347. The stock has a 50 day simple moving average of C$17.77 and a 200-day simple moving average of C$21.10. Air Canada has a 1-year low of C$15.57 and a 1-year high of C$26.80. The company has a quick ratio of 1.17, a current ratio of 1.26 and a debt-to-equity ratio of 183,588.89. The firm has a market cap of C$6.72 billion and a price-to-earnings ratio of -2.03.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. TD Securities upped their price target on Air Canada from C$25.00 to C$26.00 and gave the stock a "buy" rating in a report on Wednesday, August 3rd. Canaccord Genuity Group raised shares of Air Canada to a "buy" rating and set a C$23.00 target price on the stock in a report on Tuesday, July 12th. National Bankshares lowered their price target on shares of Air Canada from C$31.00 to C$30.00 and set an "outperform" rating for the company in a report on Thursday, July 7th. ATB Capital raised their price objective on shares of Air Canada from C$30.00 to C$32.00 and gave the company a "buy" rating in a report on Wednesday, August 3rd. Finally, Citigroup lifted their price objective on shares of Air Canada from C$19.00 to C$20.00 in a research report on Monday. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of C$27.50.

Insider Buying and Selling

In other Air Canada news, Senior Officer Amos Kazzaz purchased 4,126 shares of Air Canada stock in a transaction dated Friday, June 3rd. The stock was acquired at an average cost of C$21.36 per share, with a total value of C$88,115.68. Following the acquisition, the insider now directly owns 17,043 shares of the company's stock, valued at C$363,973.72. In other Air Canada news, Senior Officer Murray Douglas Strom sold 3,755 shares of the stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of C$21.33, for a total value of C$80,094.15. Following the completion of the transaction, the insider now directly owns 2,740 shares of the company's stock, valued at C$58,444.20. Also, Senior Officer Amos Kazzaz purchased 4,126 shares of the firm's stock in a transaction dated Friday, June 3rd. The shares were purchased at an average cost of C$21.36 per share, for a total transaction of C$88,115.68. Following the purchase, the insider now directly owns 17,043 shares in the company, valued at C$363,973.72.