Air Canada (TSE:AC) Rating Lowered to "Underperform" at Jefferies Financial Group

Air Canada (TSE:AC - Get Free Report) was downgraded by research analysts at Jefferies Financial Group from a "hold" rating to an "underperform" rating in a report issued on Tuesday,BayStreet.CA reports. They currently have a C$12.00 price objective on the stock, down from their prior price objective of C$18.00. Jefferies Financial Group's price objective suggests a potential downside of 11.44% from the stock's previous close.

A number of other equities research analysts have also recently commented on AC. CIBC reduced their target price on shares of Air Canada from C$28.00 to C$24.00 in a research report on Tuesday, February 18th. JPMorgan Chase & Co. downgraded shares of Air Canada from an "overweight" rating to a "neutral" rating and cut their price objective for the company from C$34.00 to C$24.00 in a report on Monday, March 3rd. Stifel Nicolaus lowered their target price on Air Canada from C$28.00 to C$26.00 in a report on Tuesday, February 18th. ATB Capital increased their price target on Air Canada from C$28.00 to C$31.00 and gave the company an "outperform" rating in a report on Wednesday, December 18th. Finally, BMO Capital Markets boosted their price objective on Air Canada from C$29.00 to C$31.00 in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$24.67.

Air Canada Price Performance

Shares of AC traded down C$0.44 during mid-day trading on Tuesday, hitting C$13.55. 4,969,817 shares of the company were exchanged, compared to its average volume of 3,425,908. The stock has a market cap of C$4.83 billion, a price-to-earnings ratio of 1.91, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. Air Canada has a 1-year low of C$13.11 and a 1-year high of C$26.18. The company has a 50 day moving average of C$16.65 and a 200-day moving average of C$19.41. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92.

Insider Buying and Selling

In related news, 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. Also, Director Vagn Sorensen bought 11,440 shares of the stock in a transaction dated Wednesday, February 19th. The stock was bought at an average price of C$17.40 per share, with a total value of C$199,057.14. Insiders purchased 32,993 shares of company stock worth $538,251 in the last ninety days. Insiders own 0.14% of the company's stock.

Air Canada Company Profile

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.