Air Canada (TSE:AC) Downgraded by Jefferies Financial Group to “Underperform”

Air Canada (TSE:AC) was downgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to an “underperform” rating in a report issued on Tuesday,BayStreet.CA reports. They currently have a C$12.00 price target on the stock, down from their prior price target of C$18.00. Jefferies Financial Group’s price objective would suggest a potential downside of 16.38% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Raymond James raised shares of Air Canada to a “moderate buy” rating in a report on Tuesday, December 17th. ATB Capital lifted their target price on Air Canada from C$28.00 to C$31.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Scotiabank increased their target price on shares of Air Canada from C$26.50 to C$29.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. downgraded Air Canada from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from C$34.00 to C$24.00 in a research note on Monday, March 3rd. Finally, CIBC reduced their price objective on Air Canada from C$28.00 to C$24.00 in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Air Canada currently has a consensus rating of “Moderate Buy” and an average target price of C$24.80.

Air Canada Trading Up 1.3 %

Shares of AC stock traded up C$0.18 during mid-day trading on Tuesday, reaching C$14.35. 2,745,957 shares of the stock traded hands, compared to its average volume of 3,370,722. The stock’s fifty day simple moving average is C$17.13 and its two-hundred day simple moving average is C$19.41. Air Canada has a 1-year low of C$13.62 and a 1-year high of C$26.18. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00. The company has a market cap of C$5.12 billion, a price-to-earnings ratio of 2.02, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39.

Insider Buying and Selling

In related news, Director Vagn Sorensen bought 11,440 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was bought at an average cost of C$17.40 per share, for a total transaction of C$199,057.14. Also, 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, for a total transaction of C$228,546.55. 0.14% of the stock is currently owned by company 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.