Scotiabank Lowers Air Canada (TSE:AC) Price Target to C$21.00

Air Canada (TSE:ACFree Report) had its target price decreased by Scotiabank from C$25.00 to C$21.00 in a research note released on Wednesday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on AC. JPMorgan Chase & Co. cut shares of Air Canada from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from C$34.00 to C$24.00 in a research note on Monday, March 3rd. Stifel Nicolaus lowered their price target on Air Canada from C$28.00 to C$26.00 in a report on Tuesday, February 18th. ATB Capital boosted their price target 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 increased their price objective on Air Canada from C$26.75 to C$29.50 in a research report on Wednesday, December 18th. Finally, Jefferies Financial Group lowered Air Canada from a “hold” rating to an “underperform” rating and dropped their target price for the company from C$18.00 to C$12.00 in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$23.67.

Get Our Latest Analysis on Air Canada

Air Canada Price Performance

Shares of TSE AC opened at C$13.68 on Wednesday. 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 stock has a market cap of C$4.88 billion, a P/E ratio of 1.93, a P/E/G ratio of 0.02 and a beta of 2.39. The stock has a 50 day moving average of C$15.80 and a two-hundred day moving average of C$19.27. Air Canada has a twelve month low of C$12.69 and a twelve month high of C$26.18.

Insiders Place Their Bets

In other news, Director Vagn Sorensen acquired 11,440 shares of Air Canada stock in a transaction that occurred on Wednesday, February 19th. The stock was purchased at an average cost of C$17.40 per share, with a total value of C$199,057.14. Also, Senior Officer Craig Landry bought 13,644 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were purchased at an average price of C$16.75 per share, for a total transaction of C$228,546.55. In the last ninety days, insiders have purchased 32,993 shares of company stock worth $538,251. Corporate insiders own 0.14% of the company’s stock.

About Air Canada

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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.

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Analyst Recommendations for Air Canada (TSE:AC)

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