Air Canada (TSE:AC) Downgraded by National Bankshares to Sector Perform

National Bankshares lowered shares of Air Canada (TSE:AC) from an outperform rating to a sector perform rating in a research note published on Wednesday,BayStreet.CA reports. They currently have C$22.00 price target on the stock, down from their previous price target of C$26.00.

AC has been the subject of a number of other research reports. Raymond James Financial lifted their price objective on shares of Air Canada from C$24.00 to C$27.00 and gave the company a “moderate buy” rating in a report on Tuesday, July 22nd. Stifel Nicolaus lifted their price objective on shares of Air Canada from C$23.00 to C$25.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Citigroup set a C$25.00 target price on shares of Air Canada and gave the stock a “buy” rating in a research note on Monday, June 30th. ATB Capital boosted their target price on shares of Air Canada from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Finally, Canaccord Genuity Group boosted their target price on shares of Air Canada from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$25.30.

Air Canada Stock Down 0.9%

AC opened at C$18.38 on Wednesday. Air Canada has a fifty-two week low of C$12.69 and a fifty-two week high of C$26.18. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92. The company has a fifty day moving average of C$19.59 and a two-hundred day moving average of C$18.00. The stock has a market capitalization of C$5.44 billion, a price-to-earnings ratio of 4.65, a PEG ratio of 0.02 and a beta of 1.73.

About Air Canada

Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.