Air Canada (TSE:AC - Get Free Report) was downgraded by equities researchers at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a report issued on Monday,BayStreet.CA reports. They presently have a C$24.00 price objective on the stock, down from their prior price objective of C$34.00. JPMorgan Chase & Co.'s price target would indicate a potential upside of 47.97% from the company's current price.
Other research analysts have also issued research reports about the company. Citigroup reduced their price objective on Air Canada from C$28.50 to C$26.50 and set a "buy" rating for the company in a research report on Monday, December 30th. Canaccord Genuity Group lifted their price objective on shares of Air Canada from C$25.00 to C$29.00 in a research note on Monday, November 4th. Jefferies Financial Group decreased their price target on Air Canada from C$23.00 to C$18.00 in a research note on Monday, February 24th. CIBC reduced their target price on shares of Air Canada from C$28.00 to C$24.00 in a report on Tuesday, February 18th. Finally, Cormark lifted their price target on Air Canada from C$26.75 to C$29.50 in a research note on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$25.20.
Read Our Latest Analysis on AC
Air Canada Stock Up 0.9 %
AC stock traded up C$0.15 during mid-day trading on Monday, hitting C$16.22. 1,934,876 shares of the company were exchanged, compared to its average volume of 3,282,766. 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 has a market capitalization of C$5.79 billion, a PE ratio of 2.28, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. Air Canada has a twelve month low of C$14.47 and a twelve month high of C$26.18. The firm has a fifty day simple moving average of C$19.33 and a 200 day simple moving average of C$19.44.
Insider Activity at Air Canada
In other news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of Air Canada stock in a transaction on Thursday, December 19th. The stock was sold at an average price of C$21.71, for a total transaction of C$130,246.80. Also, Director Vagn Sorensen purchased 11,440 shares of Air Canada stock in a transaction that occurred on Wednesday, February 19th. The shares were bought at an average price of C$17.40 per share, with a total value of C$199,057.14. 0.14% of the stock is currently owned by corporate insiders.
About Air Canada
(
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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.
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