Air Canada (AC) Receives Average Recommendation of “Buy” from Brokerages
Air Canada (TSE:AC) has been assigned an average recommendation of “Buy” from the twelve brokerages that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$30.85.
Several research analysts have recently weighed in on the company. Royal Bank of Canada cut their price target on Air Canada from C$33.00 to C$31.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th. CIBC increased their price target on Air Canada from C$34.00 to C$36.00 in a research note on Thursday, October 26th. TD Securities increased their price target on Air Canada from C$34.00 to C$36.00 and gave the stock an “action list buy” rating in a research note on Thursday, October 26th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a C$29.00 price target on shares of Air Canada in a research note on Monday, November 13th. Finally, Scotiabank increased their price target on Air Canada from C$28.50 to C$30.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 26th.
Air Canada (TSE:AC) traded up C$0.05 during midday trading on Friday, reaching C$22.96. The company had a trading volume of 1,978,208 shares, compared to its average volume of 1,414,063. The stock has a market cap of $6,270.00, a price-to-earnings ratio of 3.41 and a beta of 1.18. Air Canada has a twelve month low of C$12.49 and a twelve month high of C$28.70.
In related news, Director Benjamin M. Smith sold 30,669 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of C$22.01, for a total transaction of C$675,024.69. Also, insider Chris Isford sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of C$25.45, for a total value of C$381,750.00. Over the last three months, insiders have sold 48,544 shares of company stock worth $1,125,897.
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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