Air Canada (TSE:AC) Stock Price Down 8.2%

Air Canada (TSE:AC)’s share price traded down 8.2% during trading on Thursday . The company traded as low as C$18.76 and last traded at C$18.78. 2,014,619 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 2,227,685 shares. The stock had previously closed at C$20.46.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Scotiabank cut their price objective on Air Canada from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Thursday, March 28th. TD Securities boosted their price target on Air Canada from C$30.00 to C$34.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada set a C$18.00 price target on Air Canada and gave the company a “sector perform” rating in a research note on Thursday, April 4th. ATB Capital dropped their price target on Air Canada from C$33.00 to C$32.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 20th. Finally, JPMorgan Chase & Co. boosted their price target on Air Canada from C$38.00 to C$41.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$30.35.

Air Canada Stock Performance

The stock has a market cap of C$6.73 billion, a P/E ratio of 3.15, a P/E/G ratio of 0.02 and a beta of 2.42. The company has a fifty day moving average price of C$18.98 and a 200 day moving average price of C$18.41. The company has a debt-to-equity ratio of 1,741.46, a current ratio of 1.02 and a quick ratio of 1.06.

Air Canada (TSE:AC) last released its quarterly earnings data on Friday, February 16th. The company reported C($0.12) EPS for the quarter, missing the consensus estimate of C($0.05) by C($0.07). The firm had revenue of C$5.18 billion during the quarter, compared to analysts’ expectations of C$5.05 billion. On average, equities analysts expect that Air Canada will post 2.9504792 EPS for the current year.

Insider Activity

In related news, Senior Officer Mark Youssef Nasr purchased 2,406 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average price of C$18.21 per share, for a total transaction of C$43,823.37. Corporate insiders own 0.17% of the company’s stock.

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.