Air Canada (TSE:AC) Price Target Cut to C$21.00 by Analysts at Scotiabank

Air Canada (TSE:AC - Free Report) had its target price reduced by Scotiabank from C$25.00 to C$21.00 in a research report sent to investors on Wednesday,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research firms have also issued reports on AC. JPMorgan Chase & Co. lowered shares of Air Canada from an "overweight" rating to a "neutral" rating and lowered their target price for the company from C$34.00 to C$24.00 in a research note on Monday, March 3rd. BMO Capital Markets dropped their price target on Air Canada from C$31.00 to C$29.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Cormark upped their target price on shares of Air Canada from C$26.75 to C$29.50 in a research note on Wednesday, December 18th. Jefferies Financial Group cut shares of Air Canada from a "hold" rating to an "underperform" rating and reduced their target price for the company from C$18.00 to C$12.00 in a research note on Tuesday, April 1st. Finally, Stifel Nicolaus decreased their price objective on Air Canada from C$28.00 to C$26.00 in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$23.67.

Air Canada Price Performance

AC stock traded up C$0.37 on Wednesday, hitting C$14.05. 3,826,031 shares of the company's stock traded hands, compared to its average volume of 3,535,919. Air Canada has a 1-year low of C$12.69 and a 1-year high of C$26.18. The stock has a fifty day moving average of C$15.80 and a 200-day moving average of C$19.29. The stock has a market cap of C$5.01 billion, a price-to-earnings ratio of 1.98, 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.

Insider Activity

In other news, Senior Officer Craig Landry purchased 7,909 shares of the business's stock in a transaction dated Monday, March 31st. The shares were purchased at an average cost of C$13.99 per share, with a total value of C$110,646.91. Also, Director Vagn Sorensen bought 11,440 shares of the business's stock in a transaction 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. In the last three months, insiders purchased 32,993 shares of company stock worth $538,251. 0.14% of the stock is currently owned by company insiders.

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.