Air Canada (TSE:AC) Price Target Cut to C$22.00 by Analysts at Stifel Nicolaus

Air Canada (TSE:AC) had its price objective decreased by Stifel Nicolaus from C$26.00 to C$22.00 in a research report report published on Thursday,BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other research analysts 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 price target for the stock from C$34.00 to C$24.00 in a report on Monday, March 3rd. BMO Capital Markets lowered their target price on shares of Air Canada from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research note on Thursday, April 3rd. Royal Bank of Canada cut their price target on shares of Air Canada from C$20.00 to C$16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 16th. National Bankshares lowered their price objective on Air Canada from C$27.00 to C$23.00 in a research report on Thursday, April 10th. Finally, Canaccord Genuity Group cut their target price on Air Canada from C$29.00 to C$24.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$23.38.

Air Canada Trading Up 1.0 %

Shares of AC stock opened at C$14.11 on Thursday. The stock has a 50-day moving average of C$14.77 and a 200-day moving average of C$19.03. 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 stock has a market cap of C$5.03 billion, a price-to-earnings ratio of 1.99, a PEG ratio of 0.02 and a beta of 2.39. Air Canada has a 1-year low of C$12.69 and a 1-year high of C$26.18.

Insiders Place Their Bets

In related news, Senior Officer Craig Landry bought 13,644 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were bought at an average price of C$16.75 per share, for a total transaction of C$228,546.55. Also, Director Vagn Sorensen bought 11,440 shares of the business’s 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. Over the last 90 days, insiders have acquired 32,993 shares of company stock worth $538,251. 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.