Canaccord Genuity Group Increases Air Canada (TSE:AC) Price Target to C$27.00

Air Canada (TSE:AC) had its price objective upped by Canaccord Genuity Group from C$24.00 to C$27.00 in a research note published on Monday morning,BayStreet.CA reports.

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. lowered Air Canada from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from C$34.00 to C$24.00 in a research report on Monday, March 3rd. National Bankshares reduced their price target on Air Canada from C$27.00 to C$23.00 in a research report on Thursday, April 10th. Stifel Nicolaus boosted their price target on Air Canada from C$22.00 to C$23.00 in a research report on Monday. Jefferies Financial Group lowered Air Canada from a “hold” rating to an “underperform” rating and reduced their price target for the stock from C$18.00 to C$12.00 in a research report on Tuesday, April 1st. Finally, BMO Capital Markets cut their price objective on Air Canada from C$31.00 to C$29.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$24.31.

Air Canada Price Performance

AC stock opened at C$18.62 on Monday. Air Canada has a 52-week low of C$12.69 and a 52-week 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. The company has a market capitalization of C$6.64 billion, a PE ratio of 2.62, a P/E/G ratio of 0.02 and a beta of 2.39. The stock’s 50 day moving average is C$14.74 and its two-hundred day moving average is C$18.95.

Insider Activity at Air Canada

In other news, Senior Officer Craig Landry bought 7,909 shares of the company’s stock in a transaction on Monday, March 31st. The shares were bought 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 company’s stock in a transaction on Wednesday, February 19th. The stock was purchased at an average cost of C$17.40 per share, for a total transaction of C$199,057.14. Over the last ninety days, insiders have acquired 32,993 shares of company stock valued at $538,251. Company insiders own 0.14% of the company’s stock.

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.