Air Canada (TSE:AC) Rating Increased to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Air Canada (TSE:AC) from a sector perform rating to an outperform rating in a report published on Monday,BayStreet.CA reports. The brokerage currently has C$25.00 target price on the stock, up from their prior target price of C$16.00.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group lowered Air Canada from a “hold” rating to an “underperform” rating and dropped their price target for the company from C$18.00 to C$12.00 in a research report on Tuesday, April 1st. Raymond James dropped their target price on shares of Air Canada from C$28.00 to C$24.00 in a report on Tuesday, May 6th. CIBC reduced their price target on shares of Air Canada from C$24.00 to C$21.00 in a research report on Thursday, April 10th. National Bankshares lowered their price objective on shares of Air Canada from C$27.00 to C$23.00 in a research report on Thursday, April 10th. Finally, Canaccord Genuity Group cut 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 report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$24.31.

Air Canada Price Performance

AC opened at C$18.37 on Monday. The company has a market capitalization of C$6.55 billion, a P/E ratio of 2.59, a PEG ratio of 0.02 and a beta of 2.39. The company has a 50-day moving average of C$14.64 and a 200-day moving average of C$18.94. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92. Air Canada has a 1-year low of C$12.69 and a 1-year high of C$26.18.

Insider Buying and Selling at Air Canada

In other news, Director Vagn Sorensen bought 11,440 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were purchased at an average price of C$17.40 per share, with a total value of C$199,057.14. Also, Senior Officer Craig Landry purchased 7,909 shares of the firm’s stock in a transaction on Monday, March 31st. The shares were purchased at an average cost of C$13.99 per share, with a total value of C$110,646.91. Insiders have acquired 32,993 shares of company stock valued at $538,251 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

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.