Air Canada (TSE:AC) Stock Price Down 8.2%

Air Canada (TSE:AC) shares fell 8.2% during mid-day trading on Thursday . The stock traded as low as C$18.76 and last traded at C$18.78. 2,014,619 shares changed hands during trading, a decline of 10% from the average session volume of 2,227,685 shares. The stock had previously closed at C$20.46.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AC. National Bankshares set a C$31.00 target price on shares of Air Canada and gave the company an “outperform” rating in a research note on Tuesday, March 5th. ATB Capital decreased their target price on shares of Air Canada from C$33.00 to C$32.00 and set an “outperform” rating for the company in a research note on Tuesday, February 20th. Scotiabank decreased their target price on shares of Air Canada from C$30.00 to C$29.00 and set an “outperform” rating for the company in a research note on Thursday, March 28th. Royal Bank of Canada set a C$18.00 target price on shares of Air Canada and gave the company a “sector perform” rating in a research note on Thursday, April 4th. Finally, BMO Capital Markets restated a “buy” rating and issued a C$32.00 target price on shares of Air Canada in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$30.35.

Air Canada Stock Performance

The company has a current ratio of 1.02, a quick ratio of 1.06 and a debt-to-equity ratio of 1,741.46. The company’s 50-day moving average price is C$18.98 and its two-hundred day moving average price is C$18.41. The company has a market cap of C$6.73 billion, a P/E ratio of 3.15, a price-to-earnings-growth ratio of 0.02 and a beta of 2.42.

Air Canada (TSE:AC) last posted its quarterly earnings data on Friday, February 16th. The company reported C($0.12) earnings per share for the quarter, missing the consensus estimate of C($0.05) by C($0.07). The firm had revenue of C$5.18 billion for the quarter, compared to the consensus estimate of C$5.05 billion. As a group, equities analysts forecast that Air Canada will post 2.9504792 earnings per share for the current year.

Insiders Place Their Bets

In related news, Senior Officer Mark Youssef Nasr purchased 2,406 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average cost of C$18.21 per share, for a total transaction of C$43,823.37. Corporate insiders own 0.17% of the company’s stock.

Air Canada Company Profile

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.