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

Air Canada (TSE:AC) had its price objective dropped by investment analysts at Scotiabank from C$25.00 to C$21.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 48.94% from the company’s current price.

Other research analysts have also issued research reports about the company. Jefferies Financial Group lowered Air Canada from a “hold” rating to an “underperform” rating and reduced their price target for the stock from C$18.00 to C$12.00 in a research report on Tuesday, April 1st. Cormark upped their price objective on shares of Air Canada from C$26.75 to C$29.50 in a report on Wednesday, December 18th. BMO Capital Markets lowered their target price on shares of Air Canada from C$31.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Thursday, April 3rd. JPMorgan Chase & Co. downgraded shares of Air Canada from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from C$34.00 to C$24.00 in a research report on Monday, March 3rd. Finally, Stifel Nicolaus decreased their price objective on shares of Air Canada from C$28.00 to C$26.00 in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Air Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.13.

Air Canada Stock Performance

Shares of TSE AC traded up C$1.27 during mid-day trading on Wednesday, hitting C$14.10. The company had a trading volume of 3,643,772 shares, compared to its average volume of 3,455,854. Air Canada has a 12 month low of C$12.69 and a 12 month high of C$26.18. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06. The firm’s 50 day simple moving average is C$16.22 and its two-hundred day simple moving average is C$19.33. The stock has a market cap of C$5.03 billion, a price-to-earnings ratio of 1.99, a PEG ratio of 0.02 and a beta of 2.39.

Insider Transactions at Air Canada

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