Insider Buying: Air Canada (TSE:AC) Senior Officer Acquires 13,644 Shares of Stock

Air Canada (TSE:AC) Senior Officer Craig Landry purchased 13,644 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average price of C$16.75 per share, with a total value of C$228,546.55.

Air Canada Stock Performance

Shares of AC traded down C$0.03 during mid-day trading on Tuesday, reaching C$16.07. 5,520,089 shares of the company’s stock were exchanged, compared to its average volume of 3,248,213. The business’s fifty day simple moving average is C$19.68 and its 200-day simple moving average is C$19.45. The stock has a market capitalization of C$5.73 billion, a PE ratio of 2.26, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. Air Canada has a 52-week low of C$14.47 and a 52-week high of C$26.18. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Air Canada from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from C$34.00 to C$24.00 in a research report on Monday. Scotiabank lifted their price target on Air Canada from C$26.50 to C$29.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Raymond James raised Air Canada to a “moderate buy” rating in a research report on Tuesday, December 17th. CIBC cut their target price on Air Canada from C$28.00 to C$24.00 in a research report on Tuesday, February 18th. Finally, Citigroup decreased their target price on Air Canada from C$28.50 to C$26.50 and set a “buy” rating for the company in a research note on Monday, December 30th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$25.20.

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.