Air Canada (TSE:AC) Trading Down 8.2%

Air Canada (TSE:AC)’s stock price was down 8.2% during trading on Thursday . The stock traded as low as C$18.76 and last traded at C$18.78. Approximately 2,014,619 shares traded hands during trading, a decline of 10% from the average daily volume of 2,227,685 shares. The stock had previously closed at C$20.46.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AC shares. JPMorgan Chase & Co. lifted their price target on shares of Air Canada from C$38.00 to C$41.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. CIBC cut their price target on shares of Air Canada from C$30.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Friday. ATB Capital lifted their price target on shares of Air Canada from C$32.00 to C$33.00 in a research note on Friday. TD Securities cut their price target on shares of Air Canada from C$34.00 to C$33.00 and set a “buy” rating on the stock in a research note on Friday. Finally, BMO Capital Markets reiterated a “buy” rating and set a C$32.00 price target on shares of Air Canada in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Air Canada has a consensus rating of “Moderate Buy” and an average price target of C$30.12.

Air Canada Trading Up 0.1 %

The firm has a market cap of C$6.72 billion, a PE ratio of 3.15, a P/E/G ratio of 0.02 and a beta of 2.42. The company’s fifty day moving average price is C$19.00 and its two-hundred day moving average price is C$18.41. The company has a quick ratio of 1.06, a current ratio of 1.02 and a debt-to-equity ratio of 1,741.46.

Air Canada (TSE:AC) last issued its earnings results on Friday, February 16th. The company reported C($0.12) earnings per share for the quarter, missing the consensus estimate of C($0.05) by C($0.07). The firm had revenue of C$5.18 billion for the quarter, compared to analyst estimates of C$5.05 billion. As a group, sell-side analysts forecast that Air Canada will post 2.9024768 earnings per share for the current fiscal year.

Insider Activity

In other news, Senior Officer Mark Youssef Nasr bought 2,406 shares of the stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of C$18.21 per share, with a total value of C$43,823.37. Insiders own 0.17% 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.