Air Canada (AC) Receives Consensus Rating of “Buy” from Brokerages
Air Canada (TSE:AC) has received a consensus recommendation of “Buy” from the eleven research firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$25.17.
A number of analysts have recently commented on AC shares. CIBC boosted their target price on shares of Air Canada from C$20.50 to C$23.00 in a report on Friday, July 7th. National Bank Financial boosted their target price on shares of Air Canada from C$18.50 to C$20.00 in a report on Thursday, June 29th. TD Securities boosted their target price on shares of Air Canada from C$25.00 to C$34.00 and gave the company an “action list buy” rating in a report on Wednesday, August 2nd. Canaccord Genuity boosted their target price on shares of Air Canada from C$21.00 to C$23.00 and gave the company a “buy” rating in a report on Friday, July 7th. Finally, Macquarie boosted their target price on shares of Air Canada from C$18.00 to C$22.50 and gave the company a “neutral” rating in a report on Monday, July 17th.
Air Canada (TSE AC) traded up 2.02% during mid-day trading on Friday, hitting $24.29. 2,556,374 shares of the stock traded hands. The firm’s 50-day moving average is $21.96 and its 200 day moving average is $17.12. Air Canada has a 52-week low of $8.92 and a 52-week high of $24.97. The firm has a market cap of $6.60 billion and a P/E ratio of 7.96.
In other news, insider Arielle Meloul-Wechsler sold 2,021 shares of Air Canada stock in a transaction dated Friday, August 11th. The stock was sold at an average price of C$21.50, for a total value of C$43,451.50. Also, insider Lucie Guillemette sold 1,941 shares of Air Canada stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of C$23.18, for a total value of C$44,992.38. In the last ninety days, insiders sold 1,001,939 shares of company stock valued at $20,827,620.
Air Canada Company Profile
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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