CIBC Has Lowered Expectations for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC - Free Report) had its price target cut by CIBC from C$28.00 to C$24.00 in a research note published on Tuesday morning,BayStreet.CA reports.

A number of other analysts have also recently issued reports on the company. Citigroup lowered their price objective on Air Canada from C$28.50 to C$26.50 and set a "buy" rating on the stock in a research report on Monday, December 30th. Cormark lifted their price target on shares of Air Canada from C$26.75 to C$29.50 in a research note on Wednesday, December 18th. BMO Capital Markets increased their price objective on shares of Air Canada from C$29.00 to C$31.00 in a research note on Wednesday, December 18th. Stifel Canada upgraded shares of Air Canada from a "hold" rating to a "strong-buy" rating in a research report on Sunday, November 3rd. Finally, Scotiabank upped their target price on shares of Air Canada from C$26.50 to C$29.00 and gave the company 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 issued a strong buy rating to the company's stock. According to MarketBeat, Air Canada currently has an average rating of "Moderate Buy" and a consensus price target of C$26.20.

Air Canada Stock Performance

AC stock traded down C$0.35 during trading on Tuesday, reaching C$16.87. 1,984,519 shares of the stock were exchanged, compared to its average volume of 3,158,516. Air Canada has a twelve month low of C$14.47 and a twelve month high of C$26.18. 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$6.02 billion, a P/E ratio of 2.38, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The stock has a 50 day simple moving average of C$20.52 and a 200-day simple moving average of C$19.37.

Insider Buying and Selling at Air Canada

In related news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the firm's stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$21.71, for a total value of C$130,246.80. Corporate insiders own 0.14% of the company's stock.

Air Canada Company Profile

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.