CIBC Cuts Air Canada (TSE:AC) Price Target to C$24.00

Air Canada (TSE:AC) had its price objective decreased by CIBC from C$28.00 to C$24.00 in a research report released on Tuesday morning,BayStreet.CA reports.

A number of other equities research analysts have also issued reports on the stock. National Bankshares boosted their price target on shares of Air Canada from C$22.00 to C$27.00 in a report on Monday, November 4th. ATB Capital lifted their target price on Air Canada from C$28.00 to C$31.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Stifel Nicolaus cut their price objective on Air Canada from C$28.00 to C$26.00 in a report on Tuesday. Cormark upped their price objective on shares of Air Canada from C$26.75 to C$29.50 in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group lifted their price target on shares of Air Canada from C$25.00 to C$29.00 in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$26.20.

Air Canada Trading Down 1.3 %

TSE:AC opened at C$17.22 on Tuesday. The stock has a fifty day simple moving average of C$20.68 and a 200 day simple moving average of C$19.37. The firm has a market capitalization of C$6.14 billion, a price-to-earnings ratio of 2.42, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. Air Canada has a 1-year low of C$14.47 and a 1-year high of C$26.18. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00.

Insider Activity at Air Canada

In other news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of C$21.71, for a total transaction of C$130,246.80. 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.