Air Canada (TSE:AC) Stock Price Up 2.8% - Still a Buy?

Air Canada (TSE:AC - Get Free Report) shares traded up 2.8% on Wednesday . The stock traded as high as C$13.30 and last traded at C$13.19. 664,805 shares traded hands during trading, a decline of 81% from the average session volume of 3,421,144 shares. The stock had previously closed at C$12.83.

Wall Street Analyst Weigh In

AC has been the subject of several analyst reports. JPMorgan Chase & Co. lowered Air Canada from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from C$34.00 to C$24.00 in a report on Monday, March 3rd. Cormark upped their price objective on shares of Air Canada from C$26.75 to C$29.50 in a report on Wednesday, December 18th. Stifel Nicolaus lowered their target price on shares of Air Canada from C$28.00 to C$26.00 in a research note on Tuesday, February 18th. Raymond James raised shares of Air Canada to a "moderate buy" rating in a research report on Tuesday, December 17th. Finally, Citigroup lowered their price target on Air Canada from C$28.50 to C$26.50 and set a "buy" rating on the stock in a research report on Monday, December 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$23.67.

Air Canada Price Performance

The stock has a market cap of C$4.95 billion, a price-to-earnings ratio of 1.95, a P/E/G ratio of 0.02 and a beta of 2.39. 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 stock's 50 day simple moving average is C$15.80 and its two-hundred day simple moving average is C$19.29.

Insider Activity

In related news, Director Vagn Sorensen acquired 11,440 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was purchased at an average cost of C$17.40 per share, for a total transaction of C$199,057.14. Also, Senior Officer Craig Landry acquired 7,909 shares of the business's stock in a transaction on Monday, March 31st. The shares were bought at an average cost of C$13.99 per share, with a total value of C$110,646.91. In the last three months, insiders have acquired 32,993 shares of company stock worth $538,251. Corporate insiders own 0.14% of the company's stock.

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.