BMO Capital Markets Has Lowered Expectations for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its target price reduced by equities research analysts at BMO Capital Markets from C$31.00 to C$29.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 114.02% from the company’s current price.

Other research analysts also recently issued research reports about the company. Cormark increased their price target on Air Canada from C$26.75 to C$29.50 in a research note on Wednesday, December 18th. Raymond James upgraded Air Canada to a “moderate buy” rating in a report on Tuesday, December 17th. 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. Jefferies Financial Group cut shares of Air Canada from a “hold” rating to an “underperform” rating and decreased their price objective for the company from C$18.00 to C$12.00 in a report on Tuesday. Finally, Scotiabank increased their target price on shares of Air Canada from C$26.50 to C$29.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$24.67.

Air Canada Stock Down 3.1 %

Shares of TSE:AC opened at C$13.55 on Thursday. The company has a 50 day moving average of C$16.65 and a 200-day moving average of C$19.38. Air Canada has a one year low of C$13.11 and a one year high of C$26.18. The stock has a market cap of C$4.83 billion, a price-to-earnings ratio of 1.91, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06.

Insider Buying and Selling at Air Canada

In related news, Director Vagn Sorensen bought 11,440 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were acquired at an average price of C$17.40 per share, with a total value of C$199,057.14. Also, Senior Officer Craig Landry purchased 7,909 shares of Air Canada stock in a transaction that occurred 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. In the last quarter, insiders have bought 32,993 shares of company stock worth $538,251. Corporate 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.