Air Canada (TSE:AC) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Air Canada (TSE:AC) from an overweight rating to a neutral rating in a report issued on Monday,BayStreet.CA reports. JPMorgan Chase & Co. currently has C$24.00 target price on the stock, down from their previous target price of C$34.00.

A number of other research analysts have also issued reports on the company. Raymond James upgraded Air Canada to a “moderate buy” rating in a report on Tuesday, December 17th. Canaccord Genuity Group boosted their price target on Air Canada from C$25.00 to C$29.00 in a research report on Monday, November 4th. TD Cowen raised their price target on Air Canada to C$25.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. CIBC lowered their price target on Air Canada from C$28.00 to C$24.00 in a report on Tuesday, February 18th. Finally, National Bankshares raised their price target on Air Canada from C$22.00 to C$27.00 in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$25.20.

Air Canada Stock Up 3.7 %

Shares of AC opened at C$16.67 on Monday. Air Canada has a 52-week low of C$14.47 and a 52-week high of C$26.18. The company has a market capitalization of C$5.95 billion, a PE ratio of 2.35, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The stock has a fifty day simple moving average of C$19.45 and a two-hundred day simple moving average of C$19.43. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00.

Insider Activity

In related news, Director Vagn Sorensen bought 11,440 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was acquired at an average cost of C$17.40 per share, with a total value of C$199,057.14. Also, Senior Officer Craig Landry purchased 13,644 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average price of C$16.75 per share, for a total transaction of C$228,546.55. 0.14% of the stock is owned by company insiders.

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.