Air Canada (AC) Given Average Rating of “Buy” by Brokerages
Air Canada (TSE:AC) has received an average rating of “Buy” from the eleven research firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is C$25.17.
AC has been the topic of several recent research reports. Royal Bank Of Canada upped their price target on Air Canada from C$18.00 to C$21.00 and gave the stock a “top pick” rating in a report on Monday, May 8th. Scotiabank upped their price target on Air Canada from C$16.25 to C$20.50 and gave the stock a “sector perform” rating in a report on Monday, July 10th. TD Securities upped their price target on Air Canada from C$21.00 to C$24.00 and gave the stock an “action list buy” rating in a report on Tuesday, May 9th. Macquarie upped their price target on Air Canada from C$18.00 to C$22.50 and gave the stock a “neutral” rating in a report on Monday, July 17th. Finally, BMO Capital Markets restated an “outperform” rating and set a C$20.00 price target on shares of Air Canada in a report on Friday, May 12th.
In related news, insider James Anthony Tabor sold 2,037 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of C$17.95, for a total value of C$36,564.15. Also, insider Arielle Meloul-Wechsler sold 7,064 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of C$17.62, for a total value of C$124,467.68. Over the last ninety days, insiders have sold 1,115,058 shares of company stock valued at $22,845,980.
Air Canada (TSE AC) traded up 0.328% during trading on Tuesday, hitting $22.955. The stock had a trading volume of 722,453 shares. The firm has a 50 day moving average of $20.63 and a 200-day moving average of $16.23. Air Canada has a one year low of $8.82 and a one year high of $23.12. The company has a market cap of $6.23 billion and a P/E ratio of 7.521.
About Air Canada
Air Canada provides the U.S. transbonder and international airline services. The company offers scheduled passenger services under the Air Canada Express brand name in the Canadian market, the Canada-U.S. transbonder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.
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