Raymond James Financial Downgrades Air Canada (TSE:AC) to Market Perform

Air Canada (TSE:AC) was downgraded by research analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday,BayStreet.CA reports.

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

Air Canada Stock Performance

Air Canada stock traded up C$0.15 during mid-day trading on Tuesday, hitting C$20.40. The company had a trading volume of 1,708,528 shares, compared to its average volume of 2,568,620. The company has a current ratio of 0.92, a quick ratio of 1.06 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’s fifty day moving average is C$19.49 and its 200-day moving average is C$18.99. The company has a market capitalization of C$6.01 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 0.02 and a beta of 1.59.

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.