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

Air Canada (TSE:AC) had its price objective decreased by analysts at CIBC from C$24.00 to C$21.00 in a research note issued on Thursday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 53.51% from the company’s previous close.

A number of other equities analysts have also recently issued reports on AC. Scotiabank reduced their price objective on shares of Air Canada from C$25.00 to C$21.00 and set an “outperform” rating on the stock in a research note on Wednesday. BMO Capital Markets cut their price target on Air Canada from C$31.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Thursday, April 3rd. Stifel Nicolaus decreased their price objective on Air Canada from C$28.00 to C$26.00 in a research note on Tuesday, February 18th. Citigroup dropped their price objective on Air Canada from C$28.50 to C$26.50 and set a “buy” rating for the company in a report on Monday, December 30th. Finally, ATB Capital raised their target price on Air Canada from C$28.00 to C$31.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$23.67.

Air Canada Stock Up 3.5 %

Shares of TSE AC opened at C$13.68 on Thursday. Air Canada has a 1 year low of C$12.69 and a 1 year high of C$26.18. The firm’s 50-day moving average is C$15.80 and its 200-day moving average is C$19.27. 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 capitalization of C$4.88 billion, a PE ratio of 1.93, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39.

Insider Activity at Air Canada

In other news, Director Vagn Sorensen purchased 11,440 shares of the business’s stock in a transaction dated 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. Also, Senior Officer Craig Landry acquired 7,909 shares of Air Canada stock in a transaction dated Monday, March 31st. The shares were purchased at an average cost of C$13.99 per share, with a total value of C$110,646.91. In the last three months, insiders acquired 32,993 shares of company stock worth $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.