BMO Capital Markets Issues Pessimistic Forecast for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its price target trimmed by BMO Capital Markets from C$31.00 to C$29.00 in a research report released on Thursday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also recently commented on AC. ATB Capital boosted their price objective on Air Canada from C$28.00 to C$31.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Cormark lifted their price objective on Air Canada from C$26.75 to C$29.50 in a research note on Wednesday, December 18th. Stifel Nicolaus decreased their target price on Air Canada from C$28.00 to C$26.00 in a report on Tuesday, February 18th. Jefferies Financial Group cut 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 report on Tuesday, April 1st. Finally, Citigroup dropped their target price on shares of Air Canada from C$28.50 to C$26.50 and set a “buy” rating on the stock in a research report on Monday, December 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$24.67.

Air Canada Stock Performance

AC stock opened at C$13.55 on Thursday. Air Canada has a one year low of C$13.11 and a one year high of C$26.18. The firm has a market cap of C$4.83 billion, a price-to-earnings ratio of 1.91, a PEG 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 firm has a 50-day simple moving average of C$16.65 and a two-hundred day simple moving average of C$19.41.

Insider Buying and Selling

In other news, Senior Officer Craig Landry bought 13,644 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was bought at an average price of C$16.75 per share, for a total transaction of C$228,546.55. Also, Director Vagn Sorensen bought 11,440 shares of Air Canada stock in a transaction dated Wednesday, February 19th. The shares were bought at an average price of C$17.40 per share, for a total transaction of C$199,057.14. In the last 90 days, insiders acquired 32,993 shares of company stock valued at $538,251. Insiders own 0.14% of the company’s stock.

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.