Brokerages Set Air Canada (AC) PT at $16.44

Air Canada (TSE:AC) has earned a consensus recommendation of “Buy” from the ten analysts that are covering the stock. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is C$16.44.

AC has been the subject of a number of analyst reports. CIBC boosted their price target on Air Canada from C$17.50 to C$19.50 in a research note on Thursday, January 5th. TD Securities reaffirmed an “action list buy” rating and issued a C$21.00 price target on shares of Air Canada in a research note on Friday, March 10th. Raymond James Financial, Inc. reaffirmed a “market perform” rating and issued a C$12.50 price target on shares of Air Canada in a research note on Tuesday, February 21st. Macquarie boosted their price target on Air Canada from C$14.00 to C$17.00 and gave the company an “outperform” rating in a research note on Tuesday, February 21st. Finally, Scotiabank dropped their price target on Air Canada from C$16.00 to C$15.50 and set a “sector perform” rating for the company in a research note on Tuesday, February 21st.

In other Air Canada news, insider Lise Fournel sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of C$13.29, for a total transaction of C$132,900.00. Also, insider Chris Isford sold 20,273 shares of the business’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of C$13.69, for a total value of C$277,537.37. In the last three months, insiders have sold 35,300 shares of company stock valued at $479,303.

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Shares of Air Canada (TSE:AC) traded down 1.06% during trading on Monday, hitting $13.03. 785,214 shares of the stock were exchanged. The company has a market cap of $3.56 billion and a P/E ratio of 4.20. Air Canada has a 1-year low of $8.17 and a 1-year high of $14.85. The firm’s 50-day moving average is $13.34 and its 200 day moving average is $13.45.

About Air Canada

Air Canada is a domestic, United States transborder and international airline company. The Company is a provider of scheduled passenger services in the Canadian market, the Canada-United States transborder market and in the international market to and from Canada. Its mainline operates a fleet of approximately 170 aircraft, including Airbus narrow-body aircraft, over 70 Boeing and Airbus wide-body aircraft, and approximately Embraer 190 regional jets.

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