Citigroup Cuts Air Canada (TSE:AC) Price Target to C$26.50

Air Canada (TSE:AC) had its target price cut by Citigroup from C$28.50 to C$26.50 in a research note released on Monday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on AC. Cormark increased their price objective on shares of Air Canada from C$26.75 to C$29.50 in a research report on Wednesday, December 18th. National Bankshares increased their price target on Air Canada from C$22.00 to C$27.00 in a report on Monday, November 4th. BMO Capital Markets boosted their price objective on Air Canada from C$29.00 to C$31.00 in a report on Wednesday, December 18th. CIBC increased their target price on Air Canada from C$27.00 to C$28.00 in a report on Wednesday, December 4th. Finally, TD Cowen boosted their price target on shares of Air Canada to C$25.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$26.53.

Air Canada Stock Performance

AC stock opened at C$22.26 on Monday. The firm has a market cap of C$7.98 billion, a PE ratio of 4.97, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99. The stock has a 50-day moving average price of C$23.09 and a 200-day moving average price of C$18.80. Air Canada has a 1-year low of C$14.47 and a 1-year high of C$26.18.

Insider Activity at Air Canada

In other Air Canada news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of C$21.71, for a total value of C$130,246.80. 0.14% of the stock is currently owned by corporate insiders.

Air Canada Company Profile

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names in the Canadian market, the Canada-U.S. transborder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.