Cormark Cuts Air Canada (TSE:AC) Price Target to C$20.00



Air Canada (TSE:ACGet Rating) had its price target dropped by equities research analysts at Cormark from C$25.00 to C$20.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a “hold” rating on the stock. Cormark’s target price points to a potential upside of 9.95% from the company’s previous close.

AC has been the subject of a number of other reports. TD Securities reduced their price objective on shares of Air Canada from C$26.00 to C$25.00 and set a “buy” rating for the company in a research note on Tuesday, June 28th. BMO Capital Markets reiterated a “buy” rating and set a C$35.00 price objective on shares of Air Canada in a research report on Wednesday, April 27th. Scotiabank lowered their price objective on shares of Air Canada from C$31.00 to C$26.00 in a research note on Tuesday, June 28th. CIBC decreased their price target on shares of Air Canada from C$30.00 to C$29.00 in a research report on Thursday, July 14th. Finally, Citigroup cut their price target on shares of Air Canada from C$25.50 to C$19.00 and set a “neutral” rating on the stock in a report on Wednesday, July 20th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$27.44.

Air Canada Price Performance

Shares of TSE:AC opened at C$18.19 on Wednesday. The company has a debt-to-equity ratio of 183,588.89, a current ratio of 1.26 and a quick ratio of 1.17. Air Canada has a one year low of C$15.57 and a one year high of C$26.80. The company’s fifty day moving average price is C$18.07 and its 200-day moving average price is C$21.21. The firm has a market capitalization of C$6.51 billion and a price-to-earnings ratio of -1.98.

Insiders Place Their Bets

In other news, Senior Officer Amos Kazzaz bought 4,126 shares of the stock in a transaction on Friday, June 3rd. The stock was purchased at an average price of C$21.36 per share, for a total transaction of C$88,115.68. Following the acquisition, the insider now owns 17,043 shares in the company, valued at C$363,973.72. In other Air Canada news, Senior Officer Murray Douglas Strom sold 3,755 shares of the business’s stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of C$21.33, for a total transaction of C$80,094.15. Following the sale, the insider now owns 2,740 shares of the company’s stock, valued at C$58,444.20. Also, Senior Officer Amos Kazzaz bought 4,126 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The stock was purchased at an average price of C$21.36 per share, for a total transaction of C$88,115.68. Following the acquisition, the insider now owns 17,043 shares of the company’s stock, valued at C$363,973.72.

About Air Canada

(Get Rating)

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.

Analyst Recommendations for Air Canada (TSE:AC)



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