Jefferies Financial Group Has Lowered Expectations for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its target price cut by analysts at Jefferies Financial Group from C$23.00 to C$18.00 in a research report issued on Monday,BayStreet.CA reports. Jefferies Financial Group’s price target indicates a potential upside of 4.41% from the stock’s current price.

Several other brokerages also recently weighed in on AC. JPMorgan Chase & Co. lifted their price target on shares of Air Canada from C$32.00 to C$34.00 in a report on Monday, November 4th. National Bankshares lifted their target price on shares of Air Canada from C$22.00 to C$27.00 in a research note on Monday, November 4th. TD Cowen increased their price target on Air Canada to C$25.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. CIBC lowered their price objective on Air Canada from C$28.00 to C$24.00 in a research report on Tuesday, February 18th. Finally, Raymond James raised Air Canada to a “moderate buy” rating in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$25.87.

Air Canada Stock Performance

Shares of TSE AC traded up C$0.40 during trading on Monday, hitting C$17.24. The company had a trading volume of 1,608,454 shares, compared to its average volume of 3,189,608. The stock has a 50 day simple moving average of C$20.36 and a 200 day simple moving average of C$19.42. The firm has a market capitalization of C$6.15 billion, a P/E ratio of 2.43, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. 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 12 month low of C$14.47 and a 12 month high of C$26.18.

Insider Activity at Air Canada

In related news, Director Vagn Sorensen purchased 11,440 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were bought at an average price of C$17.40 per share, for a total transaction of C$199,057.14. Also, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of Air Canada stock in a transaction on Thursday, December 19th. The stock was sold at an average price of C$21.71, for a total transaction of C$130,246.80. 0.14% of the stock is owned by 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.