Air Canada (TSE:AC) Price Target Cut to C$24.00 by Analysts at Canaccord Genuity Group

Air Canada (TSE:AC) had its price target cut by Canaccord Genuity Group from C$29.00 to C$24.00 in a research report report published on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research firms have also commented on AC. Jefferies Financial Group lowered shares of Air Canada from a “hold” rating to an “underperform” rating and lowered their price target for the stock from C$18.00 to C$12.00 in a research report on Tuesday, April 1st. Stifel Nicolaus decreased their price objective on Air Canada from C$28.00 to C$26.00 in a report on Tuesday, February 18th. CIBC cut their target price on Air Canada from C$24.00 to C$21.00 in a research note on Thursday, April 10th. BMO Capital Markets reduced their price objective on shares of Air Canada from C$31.00 to C$29.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd. Finally, National Bankshares decreased their price target on Air Canada from C$27.00 to C$23.00 in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$23.69.

Air Canada Trading Down 0.6 %

TSE:AC opened at C$13.97 on Tuesday. The company has a market cap of C$4.98 billion, a PE ratio of 1.97, a P/E/G ratio of 0.02 and a beta of 2.39. The business’s 50 day moving average is C$15.63 and its two-hundred day moving average is C$19.24. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00. Air Canada has a 52 week low of C$12.69 and a 52 week high of C$26.18.

Insider Buying and Selling

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