Air Canada (TSE:AC) Hits New 1-Year Low – Here’s What Happened

Air Canada (TSE:AC) shares reached a new 52-week low on Friday . The stock traded as low as C$14.35 and last traded at C$14.46, with a volume of 681570 shares. The stock had previously closed at C$14.59.

Analyst Ratings Changes

A number of brokerages recently weighed in on AC. Scotiabank lifted their target price on shares of Air Canada from C$26.50 to C$29.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. downgraded Air Canada from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from C$34.00 to C$24.00 in a research note on Monday, March 3rd. Raymond James upgraded Air Canada to a “moderate buy” rating in a research report on Tuesday, December 17th. Jefferies Financial Group lowered their target price on Air Canada from C$23.00 to C$18.00 in a report on Monday, February 24th. Finally, Cormark increased their price target on Air Canada from C$26.75 to C$29.50 in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Air Canada has a consensus rating of “Moderate Buy” and a consensus price target of C$25.20.

Air Canada Trading Down 1.7 %

The firm has a market cap of C$5.12 billion, a price-to-earnings ratio of 2.02, a P/E/G ratio of 0.02 and a beta of 2.39. The firm’s 50-day moving average is C$17.39 and its 200-day moving average is C$19.43. The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00.

Insider Buying and Selling at Air Canada

In other news, Senior Officer Craig Landry acquired 13,644 shares of the business’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of C$16.75 per share, with a total value of C$228,546.55. Also, Director Vagn Sorensen bought 11,440 shares of the stock in a transaction dated Wednesday, February 19th. The stock was purchased at an average price of C$17.40 per share, with a total value of C$199,057.14. Insiders own 0.14% of the company’s stock.

About Air Canada

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.