National Bankshares Has Lowered Expectations for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its price objective reduced by research analysts at National Bankshares from C$27.00 to C$23.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. National Bankshares’ price target would indicate a potential upside of 68.13% from the stock’s previous close.

Other analysts also recently issued reports about the company. Cormark raised their target price on Air Canada from C$26.75 to C$29.50 in a research note on Wednesday, December 18th. ATB Capital raised their price objective on Air Canada from C$28.00 to C$31.00 and gave the company an “outperform” rating 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 price objective for the stock from C$18.00 to C$12.00 in a report on Tuesday, April 1st. BMO Capital Markets reduced their target price on Air Canada from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research note on Thursday, April 3rd. Finally, Citigroup dropped their price target on shares of Air Canada from C$28.50 to C$26.50 and set a “buy” rating for the company in a research note on Monday, December 30th. One research analyst has rated the stock with a sell rating, two have given 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$23.67.

Air Canada Price Performance

AC opened at C$13.68 on Thursday. Air Canada has a twelve month low of C$12.69 and a twelve month high of C$26.18. The firm has a market cap of C$4.88 billion, a price-to-earnings ratio of 1.93, a PEG ratio of 0.02 and a beta of 2.39. The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00. The company has a fifty day simple moving average of C$15.80 and a 200 day simple moving average of C$19.27.

Insiders Place Their Bets

In related news, Senior Officer Craig Landry acquired 13,644 shares of Air Canada stock in a transaction that occurred on Friday, February 28th. The stock was acquired 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 stock in a transaction that occurred on Wednesday, February 19th. The shares were bought at an average price of C$17.40 per share, with a total value of C$199,057.14. Over the last three months, insiders have acquired 32,993 shares of company stock valued at $538,251. Company 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.