National Bankshares Downgrades Air Canada (TSE:AC) to Sector Perform


Share on StockTwits

Air Canada (TSE:AC) was downgraded by equities researchers at National Bankshares from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Thursday, BayStreet.CA reports. They currently have a C$31.00 target price on the stock, up from their prior target price of C$26.00. National Bankshares’ target price suggests a potential upside of 15.76% from the stock’s previous close.

Several other research firms also recently weighed in on AC. National Bank Financial dropped their target price on shares of Air Canada from C$30.00 to C$26.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 3rd. Royal Bank of Canada dropped their target price on shares of Air Canada to C$25.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 17th. Cormark lifted their target price on shares of Air Canada from C$22.00 to C$25.00 in a research report on Friday, December 18th. ATB Capital lifted their target price on shares of Air Canada from C$27.50 to C$28.00 in a research report on Monday, January 25th. Finally, BMO Capital Markets dropped their target price on shares of Air Canada from C$50.00 to C$33.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 2nd. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of C$29.03.

Shares of AC stock traded down C$0.87 during midday trading on Thursday, reaching C$26.78. 3,009,732 shares of the company were exchanged, compared to its average volume of 4,655,330. Air Canada has a 12 month low of C$12.80 and a 12 month high of C$31.00. The company has a market cap of C$8.96 billion and a P/E ratio of -1.63. The company’s 50 day moving average price is C$26.65 and its two-hundred day moving average price is C$22.02. The company has a debt-to-equity ratio of 757.38, a quick ratio of 1.14 and a current ratio of 1.22.

Air Canada (TSE:AC) last announced its quarterly earnings data on Friday, February 12th. The company reported C($4.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C($2.68) by C($1.40). The firm had revenue of C$827.00 million for the quarter, compared to the consensus estimate of C$836.76 million. As a group, sell-side analysts predict that Air Canada will post 0.12 earnings per share for the current year.

In other news, Senior Officer Lucie Guillemette acquired 3,479 shares of Air Canada stock in a transaction dated Friday, February 26th. The stock was acquired at an average cost of C$24.50 per share, for a total transaction of C$85,239.67. Following the completion of the purchase, the insider now owns 35,833 shares of the company’s stock, valued at C$877,951.50. Also, Senior Officer David Shapiro sold 16,973 shares of the business’s stock in a transaction on Friday, February 19th. The stock was sold at an average price of C$23.81, for a total transaction of C$404,127.13. Following the completion of the sale, the insider now owns 13,818 shares of the company’s stock, valued at C$329,006.58. Insiders sold 31,473 shares of company stock valued at $790,468 over the last 90 days.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand name 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.

Read More: Cost of Equity For A Business, Investors

Analyst Recommendations for Air Canada (TSE:AC)

Receive News & Ratings for Air Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Canada and related companies with MarketBeat.com's FREE daily email newsletter.