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

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

AC has been the topic of a number of other reports. Stifel Nicolaus cut their target price on shares of Air Canada from C$28.00 to C$26.00 in a research report on Tuesday, February 18th. Scotiabank increased their price objective on shares of Air Canada from C$26.50 to C$29.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. BMO Capital Markets raised their price objective on shares of Air Canada from C$29.00 to C$31.00 in a research note on Wednesday, December 18th. CIBC dropped their target price on shares of Air Canada from C$28.00 to C$24.00 in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lowered Air Canada from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from C$34.00 to C$24.00 in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$24.80.

Air Canada Trading Up 1.5 %

AC stock opened at C$14.38 on Tuesday. 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 twelve month low of C$13.62 and a twelve month high of C$26.18. The company has a market cap of C$5.13 billion, a P/E ratio of 2.02, a PEG ratio of 0.02 and a beta of 2.39. The business has a fifty day moving average of C$17.01 and a 200-day moving average of C$19.41.

Insider Buying and Selling

In related news, Senior Officer Craig Landry bought 13,644 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of C$16.75 per share, with a total value of C$228,546.55. Also, Director Vagn Sorensen purchased 11,440 shares of the stock in a transaction on Wednesday, February 19th. The shares were bought at an average cost of C$17.40 per share, for a total transaction of C$199,057.14. 0.14% of the stock is currently 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.