Air Canada (TSE:AC) Downgraded by Scotiabank to “Sector Perform”

Scotiabank lowered shares of Air Canada (TSE:AC) from an outperform rating to a sector perform rating in a report issued on Tuesday morning,BayStreet.CA reports. They currently have C$21.00 target price on the stock, down from their prior target price of C$27.00.

Several other research firms have also weighed in on AC. Stifel Nicolaus boosted their price target on Air Canada from C$24.00 to C$28.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce boosted their target price on shares of Air Canada from C$23.00 to C$24.00 in a report on Wednesday, January 21st. National Bank Financial increased their price target on shares of Air Canada from C$24.00 to C$25.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada set a C$25.00 price objective on shares of Air Canada and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Finally, Raymond James Financial cut shares of Air Canada from a “moderate buy” rating to a “hold” rating in a report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$24.42.

Air Canada Price Performance

TSE:AC opened at C$17.46 on Tuesday. Air Canada has a 52-week low of C$12.69 and a 52-week high of C$23.72. The company has a market cap of C$5.14 billion, a P/E ratio of 9.39, a P/E/G ratio of 0.02 and a beta of 1.56. The company has a debt-to-equity ratio of 446.78, a quick ratio of 1.06 and a current ratio of 0.56. The stock’s 50-day simple moving average is C$19.71 and its 200 day simple moving average is C$19.04.

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.