National Bankshares Issues Pessimistic Forecast for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its price objective cut by investment analysts at National Bankshares from C$27.00 to C$23.00 in a research note issued to investors on Thursday,BayStreet.CA reports. National Bankshares’ price objective would indicate a potential upside of 74.64% from the stock’s previous close.

AC has been the topic of a number of other research reports. Scotiabank lowered their target price on shares of Air Canada from C$25.00 to C$21.00 and set an “outperform” rating on the stock in a research note on Wednesday. Raymond James upgraded Air Canada to a “moderate buy” rating in a research note on Tuesday, December 17th. CIBC decreased their price target on Air Canada from C$28.00 to C$24.00 in a research note on Tuesday, February 18th. JPMorgan Chase & Co. cut Air Canada from an “overweight” rating to a “neutral” rating and lowered their price target for the company from C$34.00 to C$24.00 in a research report on Monday, March 3rd. Finally, ATB Capital lifted their price objective on Air Canada from C$28.00 to C$31.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$23.67.

Air Canada Stock Performance

AC traded down C$0.97 during trading on Thursday, reaching C$13.17. 2,700,145 shares of the company’s stock were exchanged, compared to its average volume of 3,511,413. The company has a market capitalization of C$4.70 billion, a P/E ratio of 1.85, a PEG 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. The business has a 50 day moving average price of C$16.00 and a 200 day moving average price of C$19.31. Air Canada has a fifty-two week low of C$12.69 and a fifty-two week high of C$26.18.

Insider Buying and Selling

In other Air Canada news, Senior Officer Craig Landry bought 13,644 shares of Air Canada stock in a transaction dated Friday, February 28th. The shares were bought at an average price of C$16.75 per share, with a total value of C$228,546.55. Also, Director Vagn Sorensen purchased 11,440 shares of the stock in a transaction dated Wednesday, February 19th. The shares were acquired at an average price of C$17.40 per share, with a total value of C$199,057.14. Insiders purchased 32,993 shares of company stock worth $538,251 in the last quarter. Insiders own 0.14% of the company’s stock.

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.