Air Canada (TSE:AC) Sets New 12-Month Low on Analyst Downgrade

Air Canada (TSE:AC) shares reached a new 52-week low during trading on Friday after BMO Capital Markets lowered their price target on the stock from C$31.00 to C$29.00. BMO Capital Markets currently has an outperform rating on the stock. Air Canada traded as low as C$13.62 and last traded at C$13.69, with a volume of 537812 shares trading hands. The stock had previously closed at C$13.99.

A number of other research analysts have also recently issued reports on the company. Scotiabank raised their price objective on Air Canada from C$26.50 to C$29.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Cormark increased their target price on Air Canada from C$26.75 to C$29.50 in a research note on Wednesday, December 18th. Stifel Nicolaus dropped their price target on shares of Air Canada from C$28.00 to C$26.00 in a report on Tuesday, February 18th. Jefferies Financial Group cut shares of Air Canada from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from C$18.00 to C$12.00 in a research note on Tuesday. Finally, ATB Capital boosted their price target on Air Canada from C$28.00 to C$31.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.67.

Insider Buying and Selling

In other Air Canada news, Senior Officer Craig Landry purchased 13,644 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were purchased 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 on Wednesday, February 19th. The stock was bought at an average cost of C$17.40 per share, with a total value of C$199,057.14. In the last quarter, insiders purchased 32,993 shares of company stock valued at $538,251. 0.14% of the stock is owned by corporate insiders.

Air Canada Trading Down 3.1 %

The stock has a market cap of C$4.83 billion, a price-to-earnings ratio of 1.91, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92. The company has a 50 day moving average of C$16.65 and a 200-day moving average of C$19.38.

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.