Air Canada (TSE:AC) Stock Rating Lowered by National Bankshares

Key Points

• Air Canada's stock rating was downgraded from "outperform" to "sector perform" by National Bankshares, resulting in a new price target of C$22.00, down from C$26.00.
• Despite the downgrade, analysts have mixed opinions; Raymond James raised their target to C$27.00 while Scotiabank lowered theirs to C$26.00.
• The current consensus rating for Air Canada is "Moderate Buy" with an average price target of C$25.30, despite recent trading showing shares down to C$18.48.

Air Canada (TSE:AC - Get Free Report) was downgraded by stock analysts at National Bankshares from an "outperform" rating to a "sector perform" rating in a research note issued to investors on Wednesday,BayStreet.CA reports. They currently have a C$22.00 price target on the stock, down from their previous price target of C$26.00. National Bankshares' target price would suggest a potential upside of 19.05% from the company's previous close.

Several other analysts have also recently issued reports on the company. Raymond James Financial upped their target price on Air Canada from C$24.00 to C$27.00 and gave the company a "moderate buy" rating in a report on Tuesday, July 22nd. Scotiabank lowered their price objective on shares of Air Canada from C$27.00 to C$26.00 and set an "outperform" rating for the company in a research report on Wednesday, September 3rd. Stifel Nicolaus upped their target price on shares of Air Canada from C$23.00 to C$25.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Royal Bank Of Canada lowered their price objective on Air Canada from C$27.00 to C$25.00 and set an "outperform" rating for the company in a research report on Wednesday, August 20th. Finally, ATB Capital raised their price target on Air Canada from C$31.00 to C$32.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Air Canada has a consensus rating of "Moderate Buy" and an average price target of C$25.30.

Air Canada Price Performance

Shares of Air Canada stock traded down C$0.07 on Wednesday, hitting C$18.48. 1,762,356 shares of the company were exchanged, compared to its average volume of 3,322,453. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00. The company has a 50-day moving average price of C$19.66 and a 200 day moving average price of C$18.00. The stock has a market capitalization of C$5.47 billion, a price-to-earnings ratio of 4.68, a price-to-earnings-growth 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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