Air Canada (TSE:AC) Rating Lowered to “Moderate Sell” at Jefferies Financial Group

Air Canada (TSE:AC) was downgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “moderate sell” rating in a note issued to investors on Monday, MarketBeat.com reports. They currently have a C$19.00 price target on the stock, down from their previous price target of C$26.00. Jefferies Financial Group’s target price indicates a potential downside of 11.91% from the company’s current price.

AC has been the topic of a number of other reports. BMO Capital Markets raised their price target on shares of Air Canada from C$30.00 to C$37.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Stifel Nicolaus lifted their price objective on Air Canada from C$30.00 to C$38.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. UBS Group boosted their price objective on Air Canada from C$24.00 to C$33.00 in a research note on Thursday, August 13th. Canaccord Genuity Group reduced their target price on Air Canada from C$33.00 to C$29.00 and set a “hold” rating for the company in a report on Thursday, October 8th. Finally, Scotia increased their target price on Air Canada from C$33.50 to C$37.50 and gave the company a “sector outperform” rating in a report on Wednesday, August 19th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Air Canada presently has a consensus rating of “Moderate Buy” and an average target price of C$33.04.

Air Canada Price Performance

TSE AC traded up C$0.29 on Monday, hitting C$21.57. The company had a trading volume of 290,042 shares, compared to its average volume of 2,921,190. The company has a debt-to-equity ratio of 478.10, a current ratio of 0.60 and a quick ratio of 1.05. The company’s fifty day moving average price is C$27.10 and its 200-day moving average price is C$23.64. The company has a market capitalization of C$5.45 billion, a PE ratio of 16.47, a PEG ratio of 0.02 and a beta of 1.86. Air Canada has a 12-month low of C$16.45 and a 12-month high of C$31.45.

Air Canada (TSE:AC) last posted its quarterly earnings data on Tuesday, August 11th. The company reported C$0.40 earnings per share (EPS) for the quarter. The business had revenue of C$6.27 billion for the quarter. Air Canada had a net margin of 1.82% and a return on equity of 16.92%. As a group, analysts predict that Air Canada will post 2.58 earnings per share for the current year.

About Air Canada

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.