Air Canada (TSE:AC) Sets New 12-Month Low Following Analyst Downgrade

Shares of Air Canada (TSE:AC - Get Free Report) reached a new 52-week low during trading on Friday after BMO Capital Markets lowered their price target on the stock from C$31.00 to C$29.00. BMO Capital Markets currently has an outperform rating on the stock. Air Canada traded as low as C$13.62 and last traded at C$13.69, with a volume of 537812 shares. The stock had previously closed at C$13.99.

Other equities research analysts have also recently issued reports about the company. Cormark increased their target price on Air Canada from C$26.75 to C$29.50 in a report on Wednesday, December 18th. ATB Capital raised their price objective on Air Canada from C$28.00 to C$31.00 and gave the company an "outperform" rating in a research report on Wednesday, December 18th. Citigroup lowered 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 note on Monday, December 30th. Scotiabank raised their price target on Air Canada from C$26.50 to C$29.00 and gave the company an "outperform" rating in a report on Wednesday, December 18th. Finally, Stifel Nicolaus dropped their price target on shares of Air Canada from C$28.00 to C$26.00 in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Air Canada has an average rating of "Moderate Buy" and a consensus price target of C$24.67.

Insider Activity

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

Air Canada Price Performance

The firm has a market cap of C$4.85 billion, a PE ratio of 1.92, a P/E/G ratio of 0.02 and a beta of 2.39. The firm's fifty day simple moving average is C$16.22 and its two-hundred day simple moving average is C$19.33. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00.

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.