Air Canada (TSE:AC) Given New C$23.00 Price Target at Stifel Nicolaus

Air Canada (TSE:AC) had its target price hoisted by stock analysts at Stifel Nicolaus from C$22.00 to C$23.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Stifel Nicolaus’ price objective points to a potential upside of 23.52% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. BMO Capital Markets lowered their target price on shares of Air Canada from C$31.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Thursday, April 3rd. Jefferies Financial Group cut shares of Air Canada from a “hold” rating to an “underperform” rating and lowered their target price for the company from C$18.00 to C$12.00 in a research note on Tuesday, April 1st. National Bankshares lowered their target price on shares of Air Canada from C$27.00 to C$23.00 in a research note on Thursday, April 10th. Raymond James lowered their target price on shares of Air Canada from C$28.00 to C$24.00 in a research note on Tuesday, May 6th. Finally, CIBC reduced their price target on shares of Air Canada from C$24.00 to C$21.00 in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$24.31.

Air Canada Stock Up 6.2%

Shares of TSE:AC traded up C$1.08 during trading on Monday, reaching C$18.62. 5,694,658 shares of the stock traded hands, compared to its average volume of 3,505,705. The stock has a 50-day moving average of C$14.61 and a two-hundred day moving average of C$18.95. Air Canada has a 52-week low of C$12.69 and a 52-week high of C$26.18. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92. The stock has a market cap of C$6.64 billion, a P/E ratio of 2.62, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39.

Insider Activity at Air Canada

In related news, Director Vagn Sorensen bought 11,440 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were acquired at an average cost of C$17.40 per share, for a total transaction of C$199,057.14. Also, Senior Officer Craig Landry purchased 7,909 shares of the stock in a transaction dated Monday, March 31st. The stock was acquired at an average cost of C$13.99 per share, with a total value of C$110,646.91. In the last ninety days, insiders have bought 32,993 shares of company stock worth $538,251. Insiders own 0.14% 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.