Air Canada (TSE:AC) Price Target Raised to C$27.00

Air Canada (TSE:AC) had its price objective boosted by Canaccord Genuity Group from C$24.00 to C$27.00 in a research report released on Monday,BayStreet.CA reports.

Other research analysts have also recently issued reports about the stock. Raymond James dropped their target price on shares of Air Canada from C$28.00 to C$24.00 in a report on Tuesday, May 6th. National Bankshares cut their target price on shares of Air Canada from C$27.00 to C$23.00 in a research report on Thursday, April 10th. CIBC cut their target price on shares of Air Canada from C$24.00 to C$21.00 in a research report on Thursday, April 10th. Scotiabank cut their target price on shares of Air Canada from C$25.00 to C$21.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. downgraded shares of Air Canada from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from C$34.00 to C$24.00 in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$24.31.

Air Canada Trading Down 1.9%

Shares of AC opened at C$18.62 on Monday. Air Canada has a twelve month low of C$12.69 and a twelve month high of C$26.18. The company has a market cap of C$6.64 billion, a P/E ratio of 2.62, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00. The company’s fifty day simple moving average is C$14.74 and its 200-day simple moving average is C$18.95.

Insider Buying and Selling at Air Canada

In related news, Senior Officer Craig Landry purchased 13,644 shares of the company’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of C$16.75 per share, for a total transaction of C$228,546.55. Also, Director Vagn Sorensen purchased 11,440 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was bought at an average price of C$17.40 per share, for a total transaction of C$199,057.14. Insiders have purchased 32,993 shares of company stock valued at $538,251 over the last 90 days. 0.14% of the stock is owned by insiders.

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.