Air Canada (AC) Trading Down 1.2%

Air Canada (TSE:AC)’s share price dropped 1.2% during mid-day trading on Monday . The stock traded as low as C$24.52 and last traded at C$24.68. Approximately 1,059,440 shares were traded during trading, a decline of 19% from the average daily volume of 1,308,271 shares. The stock had previously closed at C$24.99.

AC has been the subject of several research reports. Canaccord Genuity upped their price target on shares of Air Canada from C$31.00 to C$33.00 and gave the company a “buy” rating in a research report on Monday, October 23rd. CIBC upped their price target on shares of Air Canada from C$34.00 to C$36.00 in a research report on Thursday, October 26th. Scotiabank upped their price target on shares of Air Canada from C$28.50 to C$30.00 and gave the company a “sector perform” rating in a research report on Thursday, October 26th. Royal Bank of Canada upped their price target on shares of Air Canada from C$26.00 to C$31.00 and gave the company a “top pick” rating in a research report on Wednesday, September 20th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a C$29.00 price target on shares of Air Canada in a research report on Monday, November 13th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of C$31.05.

The company has a market cap of $6,490.00, a price-to-earnings ratio of 3.66 and a beta of 1.18.

In other Air Canada news, insider Duncan Bureau sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of C$23.58, for a total transaction of C$47,160.00. Also, insider Chris Isford sold 15,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of C$25.45, for a total transaction of C$381,750.00. Over the last ninety days, insiders have sold 48,544 shares of company stock valued at $1,125,897.

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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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