Air Canada (TSE:AC) Lowered to Market Perform Rating by Raymond James Financial

Raymond James Financial downgraded shares of Air Canada (TSE:AC) from an outperform rating to a market perform rating in a research report report published on Tuesday morning,BayStreet.CA reports.

Other equities research analysts have also issued reports about the stock. Canadian Imperial Bank of Commerce increased their target price on shares of Air Canada from C$23.00 to C$24.00 in a report on Wednesday, January 21st. Royal Bank Of Canada set a C$25.00 price target on shares of Air Canada and gave the company an “outperform” rating in a research report on Tuesday, November 25th. National Bank Financial lifted their target price on shares of Air Canada from C$23.00 to C$24.00 and gave the company a “sector perform” rating in a report on Wednesday, January 14th. UBS Group raised Air Canada to a “hold” rating in a research note on Tuesday, November 18th. Finally, Scotiabank raised their target price on shares of Air Canada from C$26.50 to C$27.00 and gave the stock an “outperform” rating in a research note on Tuesday. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.85.

Air Canada Trading Up 1.4%

AC opened at C$20.53 on Tuesday. The stock has a market capitalization of C$6.05 billion, a PE ratio of 11.04, a P/E/G ratio of 0.02 and a beta of 1.59. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92. Air Canada has a one year low of C$12.69 and a one year high of C$23.72. The business’s 50 day moving average price is C$19.52 and its 200 day moving average price is C$19.00.

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.