Air Canada (TSE:AC) Rating Lowered to “Hold” at Canaccord Genuity Group

Air Canada (TSE:AC) was downgraded by equities researchers at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. They currently have a C$21.00 price objective on the stock, down from their previous price objective of C$28.00. Canaccord Genuity Group’s price target points to a potential upside of 26.58% from the stock’s previous close.

A number of other brokerages have also recently weighed in on AC. Royal Bank Of Canada set a C$25.00 price target on Air Canada and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. Canadian Imperial Bank of Commerce raised their price objective on Air Canada from C$23.00 to C$24.00 in a research note on Wednesday, January 21st. Jefferies Financial Group reduced their target price on Air Canada from C$22.00 to C$17.00 in a report on Thursday. Stifel Nicolaus increased their price target on Air Canada from C$24.00 to C$28.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Finally, Raymond James Financial lowered shares of Air Canada from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$24.50.

Air Canada Stock Down 2.9%

TSE:AC traded down C$0.50 during trading hours on Friday, reaching C$16.59. The company’s stock had a trading volume of 4,436,095 shares, compared to its average volume of 2,984,552. The company has a debt-to-equity ratio of 446.78, a current ratio of 0.56 and a quick ratio of 1.06. The company has a market cap of C$4.89 billion, a price-to-earnings ratio of 8.92, a price-to-earnings-growth ratio of 0.02 and a beta of 1.56. Air Canada has a one year low of C$12.69 and a one year high of C$23.72. The business’s 50-day moving average is C$19.63 and its 200-day moving average is C$19.02.

About Air Canada

Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.