Royal Bank of Canada Has Lowered Expectations for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its target price reduced by Royal Bank of Canada from C$20.00 to C$16.00 in a research report released on Wednesday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Scotiabank cut their price objective on shares of Air Canada from C$25.00 to C$21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. ATB Capital lifted their price target 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. Cormark boosted their price target on Air Canada from C$26.75 to C$29.50 in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut Air Canada from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from C$34.00 to C$24.00 in a research report on Monday, March 3rd. Finally, Citigroup reduced their target price on shares of Air Canada from C$28.50 to C$26.50 and set a “buy” rating for the company in a research report on Monday, December 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$23.63.

Air Canada Price Performance

Shares of AC opened at C$14.02 on Wednesday. The company’s 50-day moving average is C$15.55 and its 200-day moving average is C$19.21. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06. The firm has a market capitalization of C$5.00 billion, a PE ratio of 1.97, a PEG ratio of 0.02 and a beta of 2.39. Air Canada has a fifty-two week low of C$12.69 and a fifty-two week high of C$26.18.

Insider Activity

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