Air Canada (TSE:AC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Air Canada (TSE:AC) has been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$23.92.

A number of brokerages have issued reports on AC. Canaccord Genuity Group downgraded shares of Air Canada from a “buy” rating to a “hold” rating and reduced their price target for the company from C$28.00 to C$21.00 in a report on Friday, March 13th. Raymond James Financial downgraded shares of Air Canada from a “moderate buy” rating to a “hold” rating in a report on Tuesday, February 17th. Scotiabank downgraded shares of Air Canada from an “outperform” rating to a “hold” rating and reduced their price target for the company from C$27.00 to C$21.00 in a report on Tuesday, March 10th. Royal Bank Of Canada reduced their price target on shares of Air Canada from C$25.00 to C$22.00 in a report on Monday. Finally, National Bank Financial reduced their target price on shares of Air Canada from C$25.00 to C$22.00 in a report on Thursday, April 2nd.

Air Canada Stock Performance

Shares of TSE AC opened at C$19.31 on Wednesday. The company has a debt-to-equity ratio of 446.78, a quick ratio of 1.06 and a current ratio of 0.56. The company has a market cap of C$5.69 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.02 and a beta of 1.56. The firm’s fifty day moving average is C$18.96 and its two-hundred day moving average is C$18.86. Air Canada has a 52-week low of C$13.65 and a 52-week high of C$23.72.

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.