Royal Bank of Canada Upgrades Air Canada (TSE:AC) to Outperform

Royal Bank of Canada upgraded shares of Air Canada (TSE:AC - Free Report) from a sector perform rating to an outperform rating in a research note issued to investors on Monday morning, Marketbeat.com reports. Royal Bank of Canada currently has C$25.00 target price on the stock, up from their previous target price of C$16.00.

A number of other analysts have also issued reports on AC. Raymond James lowered their target price on Air Canada from C$28.00 to C$24.00 in a report on Tuesday, May 6th. National Bankshares lowered their target price on Air Canada from C$27.00 to C$23.00 in a report on Thursday, April 10th. Scotiabank lowered their target price on Air Canada from C$25.00 to C$21.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. BMO Capital Markets lowered their target price on Air Canada from C$31.00 to C$29.00 and set an "outperform" rating on the stock in a report on Thursday, April 3rd. Finally, Jefferies Financial Group lowered Air Canada from a "hold" rating to an "underperform" rating and decreased their price objective for the stock from C$18.00 to C$12.00 in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$24.31.

Air Canada Stock Performance

AC traded down C$0.07 during midday trading on Monday, reaching C$18.73. The company's stock had a trading volume of 2,494,698 shares, compared to its average volume of 3,546,284. The stock has a market cap of C$6.68 billion, a P/E ratio of 2.64, a PEG ratio of 0.02 and a beta of 2.39. The company has a fifty day simple moving average of C$14.87 and a 200 day simple moving average of C$18.94. The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00. Air Canada has a twelve month low of C$12.69 and a twelve month high of C$26.18.

Insider Activity at Air Canada

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