Air Canada (TSE:AC) Price Target Lowered to C$24.00 at Canaccord Genuity Group

Air Canada (TSE:AC) had its price target decreased by Canaccord Genuity Group from C$29.00 to C$24.00 in a report published on Tuesday,BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group cut Air Canada from a “hold” rating to an “underperform” rating and decreased their price objective for the company from C$18.00 to C$12.00 in a research note on Tuesday, April 1st. National Bankshares decreased their price target on shares of Air Canada from C$27.00 to C$23.00 in a research note on Thursday, April 10th. Raymond James upgraded shares of Air Canada to a “moderate buy” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. lowered shares of Air Canada from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from C$34.00 to C$24.00 in a report on Monday, March 3rd. Finally, Scotiabank lowered their target price on shares of Air Canada from C$25.00 to C$21.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$23.63.

Air Canada Stock Down 0.4 %

Air Canada stock opened at C$13.97 on Tuesday. The firm has a market capitalization of C$4.98 billion, a P/E ratio of 1.97, a P/E/G ratio of 0.02 and a beta of 2.39. The stock’s fifty day simple moving average is C$15.48 and its 200-day simple moving average is C$19.19. Air Canada has a twelve month low of C$12.69 and a twelve month high of C$26.18. The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00.

Insider Activity at Air Canada

In related news, Director Vagn Sorensen acquired 11,440 shares of Air Canada stock in a transaction on Wednesday, February 19th. The stock was purchased at an average cost of C$17.40 per share, with a total value of C$199,057.14. Also, Senior Officer Craig Landry bought 7,909 shares of the stock in a transaction on Monday, March 31st. The stock was bought at an average price of C$13.99 per share, for a total transaction of C$110,646.91. Insiders acquired a total of 32,993 shares of company stock worth $538,251 in the last 90 days. 0.14% of the stock is owned by 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.