Air Canada (TSE:AC) Director Calin Rovinescu Sells 925,481 Shares
Air Canada (TSE:AC) Director Calin Rovinescu sold 925,481 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of C$20.72, for a total value of C$19,175,966.32.
Air Canada (AC) traded up 0.79% during trading on Friday, hitting $21.67. The stock had a trading volume of 1,064,273 shares. The stock has a 50 day moving average price of $18.68 and a 200 day moving average price of $15.40. Air Canada has a 12-month low of $8.66 and a 12-month high of $22.25. The company has a market capitalization of $5.87 billion and a price-to-earnings ratio of 8.21.
A number of analysts have weighed in on the company. Royal Bank Of Canada boosted their price target on Air Canada from C$25.00 to C$26.00 and gave the stock a “top pick” rating in a research report on Wednesday. Canaccord Genuity lifted their price objective on Air Canada from C$23.00 to C$27.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James Financial, Inc. lifted their price objective on Air Canada from C$12.50 to C$15.00 and gave the stock a “market perform” rating in a research note on Monday, May 15th. Beacon Securities reiterated a “buy” rating on shares of Air Canada in a research note on Thursday, May 18th. Finally, Scotiabank lifted their price objective on Air Canada from C$20.50 to C$27.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of C$25.17.
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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