Air Canada (TSE:AC) Trading Down 8.2%

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

Wall Street Analyst Weigh In

AC has been the subject of a number of research analyst reports. Scotiabank reduced their price target 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. JPMorgan Chase & Co. raised their price objective on shares of Air Canada from C$38.00 to C$41.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. National Bankshares dropped their price objective on shares of Air Canada from C$31.00 to C$30.00 and set an “outperform” rating on the stock in a report on Friday. Canaccord Genuity Group raised their price objective on shares of Air Canada from C$31.00 to C$32.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, ATB Capital raised their price objective on shares of Air Canada from C$32.00 to C$33.00 in a report on Friday. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$30.12.

Air Canada Trading Up 0.1 %

The company has a debt-to-equity ratio of 1,741.46, a current ratio of 1.02 and a quick ratio of 1.06. The stock’s 50-day moving average is C$19.00 and its two-hundred day moving average is C$18.41. The stock has a market cap of C$6.72 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 released its quarterly earnings results on Friday, February 16th. The company reported C($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.05) by C($0.07). The company had revenue of C$5.18 billion for the quarter, compared to the consensus estimate of C$5.05 billion. Equities research analysts anticipate that Air Canada will post 2.9024768 EPS for the current year.

Insider Activity

In other news, Senior Officer Mark Youssef Nasr bought 2,406 shares of Air Canada stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of C$18.21 per share, with a total value of C$43,823.37. Insiders own 0.17% 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.