Air Canada (TSE:AC) Price Target Cut to C$29.00 by Analysts at BMO Capital Markets

Air Canada (TSE:AC) had its price target dropped by research analysts at BMO Capital Markets from C$31.00 to C$29.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 106.85% from the stock’s previous close.

Several other research firms also recently commented on AC. Scotiabank boosted their target price on Air Canada from C$26.50 to C$29.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. CIBC cut their price objective on shares of Air Canada from C$28.00 to C$24.00 in a research report on Tuesday, February 18th. Citigroup dropped their target price on shares of Air Canada from C$28.50 to C$26.50 and set a “buy” rating on the stock in a research note on Monday, December 30th. JPMorgan Chase & Co. lowered shares of Air Canada from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from C$34.00 to C$24.00 in a report on Monday, March 3rd. Finally, ATB Capital increased 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. One equities research analyst has rated the stock with a sell rating, two have issued 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 presently has a consensus rating of “Moderate Buy” and an average target price of C$24.67.

Air Canada Stock Down 2.2 %

Shares of TSE AC traded down C$0.32 on Thursday, reaching C$14.02. 2,792,313 shares of the company’s stock traded hands, compared to its average volume of 3,375,355. The business’s 50 day simple moving average is C$16.89 and its two-hundred day simple moving average is C$19.40. Air Canada has a 12 month low of C$13.62 and a 12 month high of C$26.18. The company has a market cap of C$5.00 billion, a price-to-earnings ratio of 1.97, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. 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 Buying and Selling at Air Canada

In other news, Director Vagn Sorensen acquired 11,440 shares of Air Canada stock in a transaction dated Wednesday, February 19th. The stock was purchased at an average cost of C$17.40 per share, with a total value of C$199,057.14. Also, Senior Officer Craig Landry acquired 13,644 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of C$16.75 per share, for a total transaction of C$228,546.55. 0.14% of the stock is currently owned by corporate 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.