Air Canada (TSE:AC) Price Target Lowered to C$24.00 at CIBC

Air Canada (TSE:AC) had its price objective decreased by CIBC from C$28.00 to C$24.00 in a research report issued on Tuesday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 38.01% from the stock’s previous close.

Other analysts also recently issued reports about the company. Raymond James upgraded Air Canada to a “moderate buy” rating in a report on Tuesday, December 17th. Cormark boosted their price target on Air Canada from C$26.75 to C$29.50 in a research note on Wednesday, December 18th. Jefferies Financial Group upped their target price on Air Canada from C$22.00 to C$23.00 in a research report on Monday, January 6th. BMO Capital Markets boosted their price target on Air Canada from C$29.00 to C$31.00 in a report on Wednesday, December 18th. Finally, Scotiabank upped their target price on Air Canada from C$26.50 to C$29.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$26.20.

Air Canada Trading Down 2.0 %

AC traded down C$0.36 during trading on Tuesday, reaching C$17.39. The company had a trading volume of 4,133,647 shares, compared to its average volume of 3,201,716. The stock has a market cap of C$6.20 billion, a P/E ratio of 2.45, a PEG ratio of 0.02 and a beta of 2.39. The business has a 50 day simple moving average of C$20.99 and a 200-day simple moving average of C$19.37. Air Canada has a 52 week low of C$14.47 and a 52 week high of C$26.18. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00.

Insiders Place Their Bets

In other news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of C$21.71, for a total value of C$130,246.80. Insiders own 0.14% of the company’s stock.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names in the Canadian market, the Canada-U.S. transborder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.