Air Canada (TSE:AC) Cut to Hold at National Bank Financial

Key Points

• Air Canada has been downgraded from a "strong-buy" to a "hold" rating by National Bank Financial, raising concerns among investors.
• Analyst ratings for the airline show a consensus of "Moderate Buy" with a target price averaging C$25.30, despite mixed sentiments from other firms.
• The company's stock opened at C$18.38, with notable financial metrics including a debt-to-equity ratio of 400.00 and a market capitalization of C$5.44 billion.

Air Canada (TSE:AC - Get Free Report) was downgraded by stock analysts at National Bank Financial from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other analysts also recently weighed in on AC. Stifel Nicolaus lifted their price objective on Air Canada from C$23.00 to C$25.00 and gave the company a "buy" rating in a report on Thursday, July 31st. National Bankshares downgraded Air Canada from an "outperform" rating to a "sector perform" rating and decreased their price objective for the company from C$26.00 to C$22.00 in a report on Wednesday. Canaccord Genuity Group lifted their price objective on Air Canada from C$27.00 to C$28.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Scotiabank decreased their price objective on Air Canada from C$27.00 to C$26.00 and set an "outperform" rating for the company in a report on Wednesday, September 3rd. Finally, Citigroup set a C$25.00 price objective on Air Canada and gave the company a "buy" rating in a report on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Air Canada presently has a consensus rating of "Moderate Buy" and an average target price of C$25.30.

Air Canada Stock Performance

AC stock opened at C$18.38 on Tuesday. 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 business has a 50-day moving average price of C$19.59 and a 200 day moving average price of C$18.00. The company has a market capitalization of C$5.44 billion, a P/E ratio of 4.65, a PEG ratio of 0.02 and a beta of 1.73. Air Canada has a 1-year low of C$12.69 and a 1-year high of C$26.18.

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.

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