Air Canada (TSE:AC) Director Calin Rovinescu sold 925,481 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of C$20.72, for a total value of C$19,175,966.32.
Air Canada (TSE AC) traded up 0.79% during mid-day trading on Friday, reaching $21.67. The company had a trading volume of 1,064,273 shares. The firm’s 50 day moving average price is $18.56 and its 200-day moving average price is $15.35. The company has a market capitalization of $5.89 billion and a price-to-earnings ratio of 7.10. Air Canada has a 12 month low of $8.66 and a 12 month high of $21.83.
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Several analysts recently commented on the company. Canaccord Genuity raised their target price on Air Canada from C$23.00 to C$27.00 and gave the stock a “buy” rating in a report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating and set a C$28.00 target price on shares of Air Canada in a report on Wednesday. TD Securities raised their target price on Air Canada from C$25.00 to C$34.00 and gave the stock an “action list buy” rating in a report on Wednesday. Royal Bank Of Canada raised their target price on Air Canada from C$25.00 to C$26.00 and gave the stock a “top pick” rating in a report on Wednesday. Finally, Scotiabank raised their target price on Air Canada from C$20.50 to C$27.00 and gave the stock a “sector perform” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Air Canada has an average rating of “Buy” and an average price target of C$25.17.
About Air Canada
Air Canada is a domestic, United States transborder and international airline company. The Company is a provider of scheduled passenger services in the Canadian market, the Canada-United States transborder market and in the international market to and from Canada. Its mainline operates a fleet of approximately 170 aircraft, including Airbus narrow-body aircraft, over 70 Boeing and Airbus wide-body aircraft, and approximately Embraer 190 regional jets.
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