Air Canada (TSE:AC) Stock Rating Upgraded by Royal Bank of Canada

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 published on Monday morning, Marketbeat reports. They currently have C$25.00 price objective on the stock, up from their prior price objective of C$16.00.

AC has been the topic of several other research reports. Canaccord Genuity Group dropped their target price on shares of Air Canada from C$29.00 to C$24.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. BMO Capital Markets lowered their price objective 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. CIBC reduced their target price on Air Canada from C$24.00 to C$21.00 in a report on Thursday, April 10th. Raymond James lowered their price target on Air Canada from C$28.00 to C$24.00 in a research note on Tuesday, May 6th. Finally, National Bankshares reduced their price objective on Air Canada from C$27.00 to C$23.00 in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$24.31.

Air Canada Price Performance

Shares of TSE:AC traded up C$0.17 during midday trading on Monday, reaching C$18.79. 1,108,875 shares of the company's stock traded hands, compared to its average volume of 3,527,719. The company has a fifty day simple moving average of C$14.74 and a two-hundred day simple moving average of C$18.95. Air Canada has a 1 year low of C$12.69 and a 1 year high of C$26.18. The company has a market cap of C$6.70 billion, a P/E ratio of 2.65, a PEG ratio of 0.02 and a beta of 2.39. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92.

Insiders Place Their Bets

In related news, Senior Officer Craig Landry purchased 7,909 shares of Air Canada stock in a transaction dated Monday, March 31st. The shares were acquired at an average cost of C$13.99 per share, with a total value of C$110,646.91. Also, Director Vagn Sorensen acquired 11,440 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was bought at an average price of C$17.40 per share, for a total transaction of C$199,057.14. Insiders acquired a total of 32,993 shares of company stock valued at $538,251 over the last quarter. 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.