Air Canada (TSE:AC) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Air Canada (TSE:AC) from an overweight rating to a neutral rating in a report issued on Monday,BayStreet.CA reports. The brokerage currently has C$24.00 price objective on the stock, down from their previous price objective of C$34.00.

Several other equities research analysts also recently commented on the stock. National Bankshares upped their target price on shares of Air Canada from C$22.00 to C$27.00 in a research note on Monday, November 4th. Cormark increased their price objective on Air Canada from C$26.75 to C$29.50 in a report on Wednesday, December 18th. CIBC reduced their price target on Air Canada from C$28.00 to C$24.00 in a research report on Tuesday, February 18th. Stifel Nicolaus decreased their price objective on Air Canada from C$28.00 to C$26.00 in a report on Tuesday, February 18th. Finally, Jefferies Financial Group reduced their price target on Air Canada from C$23.00 to C$18.00 in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$25.20.

Air Canada Trading Up 3.7 %

AC opened at C$16.67 on Monday. The firm has a 50 day simple moving average of C$19.45 and a 200 day simple moving average of C$19.43. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06. The company has a market cap of C$5.95 billion, a price-to-earnings ratio of 2.35, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. Air Canada has a fifty-two week low of C$14.47 and a fifty-two week high of C$26.18.

Insider Transactions at Air Canada

In related news, Senior Officer Craig Landry acquired 13,644 shares of the company’s stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of C$16.75 per share, with a total value of C$228,546.55. Also, Director Vagn Sorensen bought 11,440 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was purchased at an average cost of C$17.40 per share, for a total transaction of C$199,057.14. 0.14% of the stock is owned by corporate 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.