Air Canada (TSE:AC) Reaches New 1-Year Low - Here's Why

Air Canada (TSE:AC - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as C$14.35 and last traded at C$14.46, with a volume of 681570 shares trading hands. The stock had previously closed at C$14.59.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AC shares. Raymond James raised Air Canada to a "moderate buy" rating in a report on Tuesday, December 17th. Scotiabank raised their target price on shares of 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. JPMorgan Chase & Co. lowered shares of Air Canada from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from C$34.00 to C$24.00 in a research note on Monday, March 3rd. Stifel Nicolaus reduced their price objective on shares of Air Canada from C$28.00 to C$26.00 in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group downgraded Air Canada from a "hold" rating to an "underperform" rating and cut their target price for the stock from C$18.00 to C$12.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$24.80.

Air Canada Stock Down 0.3 %

The firm's 50-day moving average price is C$16.89 and its 200-day moving average price is C$19.40. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06. The company has a market cap of C$5.12 billion, a price-to-earnings ratio of 2.02, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39.

Insider Buying and Selling at Air Canada

In other news, Senior Officer Craig Landry acquired 13,644 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average price of C$16.75 per share, with a total value of C$228,546.55. Also, Director Vagn Sorensen purchased 11,440 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were purchased at an average cost 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

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.