Air Canada (TSE:AC) Rating Lowered to “Hold” at Canaccord Genuity Group

Air Canada (TSE:AC) was downgraded by analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a report released on Friday, Marketbeat.com reports. They currently have a C$21.00 price objective on the stock, down from their previous price objective of C$28.00. Canaccord Genuity Group’s target price points to a potential upside of 26.81% from the company’s current price.

A number of other research firms also recently issued reports on AC. Canadian Imperial Bank of Commerce lifted their price objective on Air Canada from C$23.00 to C$24.00 in a research note on Wednesday, January 21st. National Bank Financial increased their target price on Air Canada from C$24.00 to C$25.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 17th. Scotiabank lowered shares of Air Canada from an “outperform” rating to a “hold” rating and cut their target price for the company from C$27.00 to C$21.00 in a report on Tuesday, March 10th. Royal Bank Of Canada set a C$25.00 price target on shares of Air Canada and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. Finally, Stifel Nicolaus upped their price target on shares of Air Canada from C$24.00 to C$28.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Air Canada currently has an average rating of “Hold” and a consensus price target of C$24.50.

Air Canada Price Performance

TSE:AC opened at C$16.56 on Friday. The company has a current ratio of 0.56, a quick ratio of 1.06 and a debt-to-equity ratio of 446.78. The company has a market capitalization of C$4.88 billion, a P/E ratio of 8.90, a P/E/G ratio of 0.02 and a beta of 1.56. Air Canada has a 12 month low of C$12.69 and a 12 month high of C$23.72. The business’s 50-day moving average is C$19.57 and its 200 day moving average is C$18.99.

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.