Air Canada (TSE:AC) Downgraded to “Neutral” Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Air Canada (TSE:AC) from an overweight rating to a neutral rating in a research report report published on Monday,BayStreet.CA reports. JPMorgan Chase & Co. currently has C$24.00 price objective on the stock, down from their prior price objective of C$34.00.

AC has been the subject of a number of other research reports. CIBC decreased their price objective on shares of Air Canada from C$28.00 to C$24.00 in a report on Tuesday, February 18th. Citigroup cut their target price on shares of Air Canada from C$28.50 to C$26.50 and set a “buy” rating for the company in a research report on Monday, December 30th. Stifel Canada raised shares of Air Canada from a “hold” rating to a “strong-buy” rating in a research report on Sunday, November 3rd. Raymond James raised shares of Air Canada to a “moderate buy” rating in a report on Tuesday, December 17th. Finally, Cormark lifted their price objective on shares of Air Canada from C$26.75 to C$29.50 in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$25.20.

Air Canada Stock Performance

TSE:AC opened at C$16.10 on Monday. Air Canada has a twelve month low of C$14.47 and a twelve month 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 firm has a market capitalization of C$5.74 billion, a P/E ratio of 2.27, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a fifty day moving average of C$19.68 and a 200-day moving average of C$19.45.

Insider Activity at Air Canada

In related news, Director Vagn Sorensen purchased 11,440 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was purchased at an average price of C$17.40 per share, with a total value of C$199,057.14. Also, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of C$21.71, for a total value of C$130,246.80. 0.14% of the stock is currently owned by 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.