Air Canada (TSE:AC) Cut to Hold at Raymond James Financial

Raymond James Financial downgraded shares of Air Canada (TSE:AC) from a moderate buy rating to a hold rating in a research note issued to investors on Tuesday morning, Marketbeat.com reports.

AC has been the topic of several other reports. Royal Bank Of Canada set a C$25.00 target price on Air Canada and gave the company an “outperform” rating in a research note on Tuesday, November 25th. UBS Group raised Air Canada to a “hold” rating in a report on Tuesday, November 18th. National Bank Financial boosted their price objective on Air Canada from C$23.00 to C$24.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Scotiabank increased their target price on shares of Air Canada from C$26.50 to C$27.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Canadian Imperial Bank of Commerce lifted their target price on shares of Air Canada from C$23.00 to C$24.00 in a research note on Wednesday, January 21st. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.85.

Air Canada Trading Down 1.1%

TSE:AC opened at C$20.99 on Tuesday. Air Canada has a 12 month low of C$12.69 and a 12 month high of C$23.72. The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00. The firm’s 50 day moving average is C$19.64 and its 200 day moving average is C$19.03. The stock has a market capitalization of C$6.22 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.02 and a beta of 1.59.

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.