Air Canada (TSE:AC) Price Target Cut to C$21.00 by Analysts at CIBC

Air Canada (TSE:AC) had its price target lowered by CIBC from C$24.00 to C$21.00 in a research note published on Thursday,BayStreet.CA reports.

A number of other research analysts have also recently commented on the stock. Cormark upped their target price on shares of Air Canada from C$26.75 to C$29.50 in a research report on Wednesday, December 18th. National Bankshares lowered their price objective on shares of Air Canada from C$27.00 to C$23.00 in a research report on Thursday. Citigroup cut their target price on Air Canada from C$28.50 to C$26.50 and set a “buy” rating on the stock in a research report on Monday, December 30th. Jefferies Financial Group lowered Air Canada from a “hold” rating to an “underperform” rating and lowered their price target for the stock from C$18.00 to C$12.00 in a research report on Tuesday, April 1st. Finally, Raymond James upgraded Air Canada to a “moderate buy” rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Air Canada has a consensus rating of “Moderate Buy” and a consensus target price of C$23.67.

Air Canada Stock Performance

Shares of Air Canada stock opened at C$13.22 on Thursday. The firm has a market cap of C$4.72 billion, a PE ratio of 1.86, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00. Air Canada has a 52 week low of C$12.69 and a 52 week high of C$26.18. The business’s fifty day simple moving average is C$15.90 and its 200-day simple moving average is C$19.29.

Insider Buying and Selling at Air Canada

In other news, Director Vagn Sorensen bought 11,440 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was purchased at an average price of C$17.40 per share, for a total transaction of C$199,057.14. Also, Senior Officer Craig Landry purchased 7,909 shares of the business’s stock in a transaction on Monday, March 31st. The stock was acquired at an average price of C$13.99 per share, for a total transaction of C$110,646.91. Insiders have purchased 32,993 shares of company stock valued at $538,251 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

About Air Canada

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.