Air Canada (TSE:AC) Cut to “Hold” at National Bank Financial

National Bank Financial lowered shares of Air Canada (TSE:AC) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

A number of other brokerages also recently commented on AC. Citigroup set a C$25.00 price target on Air Canada and gave the company a “buy” rating in a research report on Monday, June 30th. Royal Bank Of Canada decreased their target price on Air Canada from C$27.00 to C$25.00 and set an “outperform” rating for the company in a research report on Wednesday, August 20th. National Bankshares downgraded shares of Air Canada from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from C$26.00 to C$22.00 in a report on Wednesday. Scotiabank reduced their price target on shares of Air Canada from C$27.00 to C$26.00 and set an “outperform” rating for the company in a research report on Wednesday, September 3rd. Finally, Canaccord Genuity Group lifted their price objective on shares of Air Canada from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$25.10.

Air Canada Trading Down 2.2%

TSE:AC opened at C$17.98 on Tuesday. Air Canada has a 52 week low of C$12.69 and a 52 week high of C$26.18. The firm has a 50-day moving average price of C$19.52 and a two-hundred day moving average price of C$18.02. 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 firm has a market cap of C$5.32 billion, a price-to-earnings ratio of 4.55, a price-to-earnings-growth ratio of 0.02 and a beta of 1.73.

Air Canada Company Profile

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.