Air Canada (TSE:AC) Price Target Cut to C$29.00 by Analysts at BMO Capital Markets

Air Canada (TSE:AC) had its price objective lowered by equities research analysts at BMO Capital Markets from C$31.00 to C$29.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 106.85% from the stock’s current price.

Several other analysts have also commented on AC. JPMorgan Chase & Co. lowered shares of Air Canada from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from C$34.00 to C$24.00 in a research report on Monday, March 3rd. Stifel Nicolaus cut their price objective on shares of Air Canada from C$28.00 to C$26.00 in a report on Tuesday, February 18th. Cormark lifted their price objective on shares of Air Canada from C$26.75 to C$29.50 in a research note on Wednesday, December 18th. Jefferies Financial Group downgraded Air Canada from a “hold” rating to an “underperform” rating and dropped their target price for the stock from C$18.00 to C$12.00 in a research report on Tuesday. Finally, ATB Capital lifted their price target on Air Canada from C$28.00 to C$31.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$24.67.

Air Canada Stock Down 2.2 %

Air Canada stock traded down C$0.32 during midday trading on Thursday, hitting C$14.02. 2,792,313 shares of the stock were exchanged, compared to its average volume of 3,375,355. 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 capitalization of C$5.00 billion, a price-to-earnings ratio of 1.97, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. Air Canada has a 52-week low of C$13.62 and a 52-week high of C$26.18. The business’s 50-day moving average price is C$16.89 and its 200-day moving average price is C$19.40.

Insiders Place Their Bets

In other news, Director Vagn Sorensen acquired 11,440 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were purchased at an average price of C$17.40 per share, for a total transaction of C$199,057.14. Also, Senior Officer Craig Landry bought 13,644 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of C$16.75 per share, with a total value of C$228,546.55. 0.14% of the stock is currently owned by insiders.

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.