Air Canada (TSE:AC) Stock Price Up 2.8% – Still a Buy?

Air Canada (TSE:AC) traded up 2.8% on Wednesday . The stock traded as high as C$13.30 and last traded at C$13.19. 664,805 shares were traded during mid-day trading, a decline of 81% from the average session volume of 3,421,144 shares. The stock had previously closed at C$12.83.

Analysts Set New Price Targets

AC has been the subject of several analyst reports. Stifel Nicolaus dropped their target price on shares of Air Canada from C$28.00 to C$26.00 in a research report on Tuesday, February 18th. Scotiabank cut their target price on Air Canada from C$25.00 to C$21.00 and set an “outperform” rating for the company in a research note on Wednesday. Jefferies Financial Group lowered Air Canada from a “hold” rating to an “underperform” rating and decreased their price target for the company from C$18.00 to C$12.00 in a research note on Tuesday, April 1st. CIBC decreased their target price on Air Canada from C$24.00 to C$21.00 in a research report on Thursday. Finally, Cormark increased their price objective on shares of Air Canada from C$26.75 to C$29.50 in a research note 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$23.67.

Air Canada Price Performance

The company has a fifty day simple moving average of C$15.90 and a 200 day simple moving average of C$19.29. The stock has a market capitalization of C$4.72 billion, a price-to-earnings ratio of 1.86, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92.

Insider Activity at Air Canada

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