Air Canada (TSE:AC) Trading 2.8% Higher – What’s Next?

Air Canada (TSE:AC)’s stock price rose 2.8% during trading on Wednesday . The stock traded as high as C$13.30 and last traded at C$13.19. Approximately 664,805 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 3,421,144 shares. The stock had previously closed at C$12.83.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Scotiabank lifted their price objective on Air Canada from C$26.50 to C$29.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Raymond James upgraded shares of Air Canada to a “moderate buy” rating in a research note on Tuesday, December 17th. Citigroup reduced their price objective on shares of Air Canada from C$28.50 to C$26.50 and set a “buy” rating on the stock in a research note on Monday, December 30th. BMO Capital Markets dropped their target price on shares of Air Canada from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research report on Thursday, April 3rd. Finally, Jefferies Financial Group lowered shares of Air Canada from a “hold” rating to an “underperform” rating and cut their target price for the company from C$18.00 to C$12.00 in a research note on Tuesday, April 1st. One 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$24.67.

Air Canada Stock Up 3.2 %

The firm has a market cap of C$4.72 billion, a price-to-earnings ratio of 1.86, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The stock has a 50-day moving average of C$16.22 and a 200-day moving average of C$19.33. The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00.

Insider Activity

In other Air Canada news, Senior Officer Craig Landry bought 7,909 shares of the business’s stock in a transaction on Monday, March 31st. The shares were purchased at an average price of C$13.99 per share, with a total value of C$110,646.91. Also, Director Vagn Sorensen purchased 11,440 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was acquired at an average cost of C$17.40 per share, with a total value of C$199,057.14. Over the last quarter, insiders bought 32,993 shares of company stock valued at $538,251. 0.14% of the stock is currently owned by company insiders.

Air Canada Company Profile

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.