Air Canada (TSE:AC) Lowered to “Underperform” Rating by Jefferies Financial Group

Jefferies Financial Group lowered shares of Air Canada (TSE:AC) from a hold rating to an underperform rating in a research note released on Tuesday,BayStreet.CA reports. They currently have C$12.00 price objective on the stock, down from their previous price objective of C$18.00.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. cut Air Canada from an “overweight” rating to a “neutral” rating and lowered their price target for the company from C$34.00 to C$24.00 in a research note on Monday, March 3rd. ATB Capital increased their price target on shares of Air Canada from C$28.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Raymond James raised shares of Air Canada to a “moderate buy” rating in a research note on Tuesday, December 17th. Cormark increased their target price on shares of Air Canada from C$26.75 to C$29.50 in a research report on Wednesday, December 18th. Finally, BMO Capital Markets boosted their price target on Air Canada from C$29.00 to C$31.00 in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Air Canada has an average rating of “Moderate Buy” and an average price target of C$24.80.

Air Canada Price Performance

TSE AC opened at C$14.38 on Tuesday. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06. The firm has a market capitalization of C$5.13 billion, a price-to-earnings ratio of 2.02, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The company has a 50 day simple moving average of C$17.01 and a 200-day simple moving average of C$19.41. Air Canada has a 52-week low of C$13.62 and a 52-week high of C$26.18.

Insider Buying and Selling

In related news, Senior Officer Craig Landry acquired 13,644 shares of the stock in a transaction dated Friday, February 28th. The shares were bought at an average cost 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 price of C$17.40 per share, with a total value of C$199,057.14. 0.14% of the stock is owned by company 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.