Air Canada (TSE:AC) has received an average rating of “Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$28.30.

A number of brokerages have commented on AC. Scotiabank lifted their target price on Air Canada from C$27.00 to C$28.50 and gave the company a “sector perform” rating in a research note on Wednesday, September 20th. Royal Bank Of Canada lifted their target price on Air Canada from C$26.00 to C$31.00 and gave the company a “top pick” rating in a research note on Wednesday, September 20th. Cowen and Company upgraded Air Canada from a “market perform” rating to an “outperform” rating and lifted their target price for the company from C$23.00 to C$40.00 in a research note on Wednesday, September 20th. Canaccord Genuity lifted their target price on Air Canada from C$27.00 to C$31.00 and gave the company a “buy” rating in a research note on Wednesday, September 20th. Finally, BMO Capital Markets restated an “outperform” rating and issued a C$34.00 target price on shares of Air Canada in a research note on Wednesday, September 20th.

Air Canada (TSE AC) traded up 1.95% during mid-day trading on Wednesday, reaching $27.76. The company’s stock had a trading volume of 796,588 shares. The stock has a market capitalization of $7.54 billion and a price-to-earnings ratio of 9.10. The firm has a 50-day moving average of $21.96 and a 200-day moving average of $17.12. Air Canada has a 52 week low of $11.60 and a 52 week high of $27.97.

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In related news, Director Calin Rovinescu sold 925,481 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of C$20.72, for a total transaction of C$19,175,966.32. Also, insider Arielle Meloul-Wechsler sold 2,021 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of C$21.50, for a total value of C$43,451.50. Over the last quarter, insiders have sold 1,001,939 shares of company stock valued at $20,827,620.

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.

Analyst Recommendations for Air Canada (TSE:AC)

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