Air Canada (TSE:AC) Given New C$24.00 Price Target at CIBC

Air Canada (TSE:AC) had its target price reduced by CIBC from C$28.00 to C$24.00 in a research note issued to investors on Tuesday,BayStreet.CA reports.

AC has been the topic of a number of other reports. Jefferies Financial Group raised their price target on Air Canada from C$22.00 to C$23.00 in a research note on Monday, January 6th. Scotiabank raised their price target 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. ATB Capital raised their price target on Air Canada from C$28.00 to C$31.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Raymond James upgraded Air Canada to a “moderate buy” rating in a research note on Tuesday, December 17th. Finally, Stifel Canada upgraded Air Canada from a “hold” rating to a “strong-buy” rating in a research note on Sunday, November 3rd. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$26.20.

Air Canada Trading Down 1.5 %

TSE:AC opened at C$17.48 on Tuesday. Air Canada has a 12-month low of C$14.47 and a 12-month high of C$26.18. The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00. The firm has a market cap of C$6.24 billion, a PE ratio of 2.46, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The stock has a fifty day moving average price of C$20.99 and a 200 day moving average price of C$19.37.

Insider Activity at Air Canada

In related news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the business’s stock in a transaction dated 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.