Insider Buying: Air Canada (TSE:AC) Director Acquires C$199,057.14 in Stock

Air Canada (TSE:AC) Director Vagn Sorensen bought 11,440 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were acquired at an average cost of C$17.40 per share, with a total value of C$199,057.14.

Air Canada Stock Down 2.2 %

AC opened at C$16.84 on Monday. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00. The stock has a market cap of C$6.01 billion, a price-to-earnings ratio of 2.37, a PEG ratio of 0.02 and a beta of 2.39. Air Canada has a twelve month low of C$14.47 and a twelve month high of C$26.18. The company’s 50-day moving average price is C$20.36 and its two-hundred day moving average price is C$19.42.

Analysts Set New Price Targets

AC has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Air Canada from C$32.00 to C$34.00 in a report on Monday, November 4th. Jefferies Financial Group boosted their price target on shares of Air Canada from C$22.00 to C$23.00 in a report on Monday, January 6th. Canaccord Genuity Group boosted their price target on shares of Air Canada from C$25.00 to C$29.00 in a report on Monday, November 4th. National Bankshares boosted their price target on shares of Air Canada from C$22.00 to C$27.00 in a report on Monday, November 4th. Finally, ATB Capital boosted their price target on shares of Air Canada from C$28.00 to C$31.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$26.20.

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.