Air Canada (TSE:AC) Rating Lowered to Hold at Raymond James Financial

Air Canada (TSE:AC) was downgraded by equities researchers at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a report issued on Tuesday, MarketBeat.com reports.

Other research analysts have also recently issued reports about the stock. National Bank Financial raised their target price on shares of Air Canada from C$23.00 to C$24.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Canadian Imperial Bank of Commerce raised their price objective on shares of Air Canada from C$23.00 to C$24.00 in a research note on Wednesday, January 21st. Scotiabank lifted their price objective on shares of Air Canada from C$26.50 to C$27.00 and gave the stock an “outperform” rating in a research report on Tuesday. UBS Group upgraded Air Canada to a “hold” rating in a report on Tuesday, November 18th. Finally, Royal Bank Of Canada set a C$25.00 target price on Air Canada and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$24.85.

Air Canada Trading Up 3.4%

Shares of TSE AC opened at C$21.23 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00. Air Canada has a 12 month low of C$12.69 and a 12 month high of C$23.72. The company has a market cap of C$6.25 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 0.02 and a beta of 1.59. The business has a fifty day simple moving average of C$19.58 and a 200-day simple moving average of C$19.02.

Air Canada Company Profile

Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.