Air Canada (TSE:AC) Price Target Lowered to C$20.00 at Canaccord Genuity Group

Air Canada (TSE:AC) had its price objective dropped by investment analysts at Canaccord Genuity Group from C$21.00 to C$20.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 8.23% from the stock’s previous close.

A number of other brokerages also recently issued reports on AC. ATB Cormark Capital Markets cut their price target on shares of Air Canada from C$33.00 to C$32.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Raymond James Financial downgraded shares of Air Canada from a “moderate buy” rating to a “hold” rating in a report on Tuesday, February 17th. BMO Capital Markets cut their price target on shares of Air Canada from C$27.00 to C$26.00 in a report on Tuesday, March 31st. Royal Bank Of Canada cut their price target on shares of Air Canada from C$25.00 to C$22.00 in a report on Monday, April 13th. Finally, TD cut their price target on shares of Air Canada from C$23.00 to C$21.00 in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$23.39.

Air Canada Price Performance

AC stock traded up C$0.22 during mid-day trading on Monday, reaching C$18.48. The company’s stock had a trading volume of 2,355,762 shares, compared to its average volume of 3,098,683. The stock has a market cap of C$5.44 billion, a PE ratio of 7.64, a P/E/G ratio of 0.02 and a beta of 1.63. The company has a current ratio of 0.60, a quick ratio of 1.06 and a debt-to-equity ratio of 452.24. Air Canada has a fifty-two week low of C$14.55 and a fifty-two week high of C$23.72. The company’s 50 day moving average is C$18.51 and its two-hundred day moving average is C$18.91.

About Air Canada

Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.