Brokerages Set Air Canada (TSE:AC) Target Price at C$23.79

Air Canada (TSE:AC) has earned an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$23.79.

A number of equities research analysts have recently issued reports on the company. National Bankshares lowered their target price on Air Canada from C$28.00 to C$24.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. ATB Capital lowered their price objective on shares of Air Canada from C$28.00 to C$27.00 in a research report on Thursday, August 8th. Scotiabank reduced their target price on shares of Air Canada from C$27.00 to C$21.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group decreased their target price on shares of Air Canada from C$19.00 to C$16.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Finally, Citigroup dropped their price target on shares of Air Canada from C$25.00 to C$21.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st.

Air Canada Stock Down 1.4 %

Shares of TSE AC opened at C$15.49 on Friday. The stock has a fifty day moving average price of C$16.59 and a 200 day moving average price of C$17.97. The company has a market cap of C$5.55 billion, a P/E ratio of 3.46, a P/E/G ratio of 0.02 and a beta of 2.39. Air Canada has a 12-month low of C$14.47 and a 12-month high of C$23.21. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99.

Insider Activity at Air Canada

In other news, Senior Officer Christophe Hennebelle bought 1,900 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was bought at an average cost of C$15.70 per share, for a total transaction of C$29,830.00. 0.17% of the stock is currently owned by corporate insiders.

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.