Air Canada (TSE:AC) Price Target Cut to C$24.00 by Analysts at CIBC

Air Canada (TSE:AC) had its price objective lowered by equities researchers at CIBC from C$28.00 to C$24.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 38.01% from the company’s current price.

AC has been the subject of a number of other research reports. Raymond James raised Air Canada to a “moderate buy” rating in a research report on Tuesday, December 17th. Stifel Canada upgraded Air Canada from a “hold” rating to a “strong-buy” rating in a research note on Sunday, November 3rd. Stifel Nicolaus decreased their price target on Air Canada from C$28.00 to C$26.00 in a report on Tuesday. National Bankshares lifted their target price on Air Canada from C$22.00 to C$27.00 in a report on Monday, November 4th. Finally, BMO Capital Markets lifted their price target on Air Canada from C$29.00 to C$31.00 in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$26.20.

Air Canada Stock Performance

Shares of TSE AC traded down C$0.36 during midday trading on Tuesday, hitting C$17.39. The company’s stock had a trading volume of 4,133,647 shares, compared to its average volume of 3,201,716. The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00. Air Canada has a one year low of C$14.47 and a one year high of C$26.18. The firm has a market capitalization of C$6.20 billion, a price-to-earnings ratio of 2.45, a P/E/G ratio of 0.02 and a beta of 2.39. The stock has a fifty day moving average price of C$20.99 and a 200 day moving average price of C$19.37.

Insider Activity

In related news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$21.71, for a total value of C$130,246.80. 0.14% of the stock is currently owned by company insiders.

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.