Air Canada (AC) Given Average Recommendation of “Buy” by Analysts

Air Canada (TSE:AC) has received an average recommendation of “Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$30.86.

Several brokerages have recently weighed in on AC. CIBC upped their price target on Air Canada from C$27.00 to C$34.00 in a research report on Friday, October 13th. National Bank Financial upped their price target on Air Canada from C$26.00 to C$33.00 and gave the company an “outperform” rating in a research report on Friday, October 13th. Canaccord Genuity upped their price target on Air Canada from C$31.00 to C$33.00 and gave the company a “buy” rating in a research report on Monday, October 23rd. Scotiabank upped their price target on Air Canada from C$28.50 to C$30.00 and gave the company a “sector perform” rating in a research report on Thursday, October 26th. Finally, Royal Bank Of Canada decreased their price target on Air Canada from C$33.00 to C$31.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th.

In other news, Director Benjamin M. Smith sold 30,669 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of C$22.01, for a total transaction of C$675,024.69. Also, insider Duncan Bureau sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of C$23.58, for a total value of C$47,160.00. In the last three months, insiders have sold 33,544 shares of company stock valued at $744,147.

Air Canada (TSE AC) traded down C$0.34 during midday trading on Thursday, reaching C$23.82. 1,647,683 shares of the company’s stock traded hands, compared to its average volume of 1,493,862. Air Canada has a 1-year low of C$12.49 and a 1-year high of C$28.70.

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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.

Analyst Recommendations for Air Canada (TSE:AC)

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