Air Canada (TSE:AC) Price Target Cut to C$16.00 by Analysts at Royal Bank of Canada

Air Canada (TSE:AC - Get Free Report) had its price target lowered by stock analysts at Royal Bank of Canada from C$20.00 to C$16.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Royal Bank of Canada's price objective points to a potential upside of 15.36% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. Citigroup reduced their price target on shares of Air Canada from C$28.50 to C$26.50 and set a "buy" rating for the company in a research report on Monday, December 30th. CIBC dropped their price objective on Air Canada from C$24.00 to C$21.00 in a research note on Thursday, April 10th. Stifel Nicolaus lowered their target price on Air Canada from C$28.00 to C$26.00 in a research note on Tuesday, February 18th. Jefferies Financial Group cut Air Canada from a "hold" rating to an "underperform" rating and lowered their price objective for the company from C$18.00 to C$12.00 in a research note on Tuesday, April 1st. Finally, ATB Capital increased their target price on shares of Air Canada from C$28.00 to C$31.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$23.63.

Air Canada Stock Performance

Shares of Air Canada stock traded down C$0.10 during mid-day trading on Wednesday, hitting C$13.87. 1,507,254 shares of the stock were exchanged, compared to its average volume of 3,488,913. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92. The company has a market capitalization of C$4.95 billion, a P/E ratio of 1.95, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a 50-day simple moving average of C$15.39 and a 200 day simple moving average of C$19.21. Air Canada has a 12 month low of C$12.69 and a 12 month high of C$26.18.

Insider Activity at Air Canada

In related news, Senior Officer Craig Landry bought 13,644 shares of the stock in a transaction dated Friday, February 28th. The stock was bought at an average price of C$16.75 per share, with a total value of C$228,546.55. Also, Director Vagn Sorensen purchased 11,440 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was bought at an average cost of C$17.40 per share, for a total transaction of C$199,057.14. Insiders have bought a total of 32,993 shares of company stock valued at $538,251 over the last 90 days. 0.14% of the stock is owned by insiders.

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.