Air Canada (AC) Shares Up 4.4%
Air Canada (TSE:AC) shot up 4.4% during trading on Tuesday . The company traded as high as C$23.46 and last traded at C$23.45. 1,052,600 shares changed hands during trading, a decline of 25% from the average session volume of 1,398,610 shares. The stock had previously closed at C$22.46.
A number of research firms have commented on AC. Canaccord Genuity raised their price target on Air Canada from C$21.00 to C$23.00 and gave the company a “buy” rating in a report on Friday, July 7th. Royal Bank Of Canada raised their price target on Air Canada from C$21.00 to C$25.00 and gave the company a “top pick” rating in a report on Friday, July 7th. BMO Capital Markets reissued an “outperform” rating and set a C$28.00 price target on shares of Air Canada in a report on Wednesday, August 2nd. Scotiabank raised their price target on Air Canada from C$20.50 to C$27.00 and gave the company a “sector perform” rating in a report on Wednesday, August 2nd. Finally, Macquarie raised their price target on Air Canada from C$18.00 to C$22.50 and gave the company a “neutral” rating in a report on Monday, July 17th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Air Canada presently has a consensus rating of “Buy” and an average target price of C$25.17.
The stock has a market capitalization of $6.41 billion and a PE ratio of 7.73. The firm’s 50-day moving average price is $21.96 and its 200 day moving average price is $17.12.
In related news, insider Yves Dufresne sold 1,677 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of C$22.15, for a total transaction of C$37,145.55. Also, insider Lucie Guillemette sold 1,941 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of C$23.18, for a total transaction of C$44,992.38. In the last 90 days, insiders have sold 1,001,939 shares of company stock valued at $20,827,620.
Air Canada Company Profile
Air Canada provides the U.S. transbonder and international airline services. The company offers scheduled passenger services under the Air Canada Express brand name in the Canadian market, the Canada-U.S. transbonder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.
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