Air Canada (TSE:AC) Price Target Lowered to C$16.00 at Royal Bank of Canada

Air Canada (TSE:AC) had its target price lowered by research analysts at Royal Bank of Canada from C$20.00 to C$16.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 15.44% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Jefferies Financial Group downgraded shares of Air Canada from a “hold” rating to an “underperform” rating and decreased their target price for the company from C$18.00 to C$12.00 in a research report on Tuesday, April 1st. National Bankshares lowered their target price on shares of Air Canada from C$27.00 to C$23.00 in a research note on Thursday, April 10th. Scotiabank lowered their price objective on Air Canada from C$25.00 to C$21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Stifel Nicolaus cut their target price on Air Canada from C$28.00 to C$26.00 in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. downgraded Air Canada from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from C$34.00 to C$24.00 in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$23.63.

Air Canada Trading Down 0.8 %

Shares of TSE AC traded down C$0.11 during trading on Wednesday, reaching C$13.86. The company had a trading volume of 1,925,014 shares, compared to its average volume of 3,499,097. The stock has a market cap of C$4.94 billion, a P/E ratio of 1.95, a PEG ratio of 0.02 and a beta of 2.39. The company’s fifty day moving average price is C$15.63 and its 200-day moving average price is C$19.24. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00. Air Canada has a 12 month low of C$12.69 and a 12 month high of C$26.18.

Insider Buying and Selling

In related news, Senior Officer Craig Landry acquired 7,909 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average price of C$13.99 per share, with a total value of C$110,646.91. Also, Director Vagn Sorensen bought 11,440 shares of Air Canada stock in a transaction on Wednesday, February 19th. The shares were 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 have purchased 32,993 shares of company stock valued at $538,251. 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.