Air Canada Director Acquires Shares Worth C$199,057

On February 19th, 2023, Vagn Sorensen, a director at Air Canada (TSE:AC), made a significant investment by purchasing 11,440 shares of the airline's stock. The shares were bought at an average price of C$17.40 each, resulting in a total expenditure of C$199,057.14.

Air Canada Stock Overview

The trading activity for Air Canada shares on Friday showed a decrease of C$0.38, bringing the stock price to C$16.84. The day's trading volume reached 4,275,777 shares, which is higher than its average volume of 3,234,441 shares. The company's 50-day simple moving average stands at C$20.52, while its 200-day moving average is C$19.37. Financial metrics indicate a debt-to-equity ratio of 400.00. The quick ratio is at 1.06, and the current ratio is 0.92. Over the past year, Air Canada has experienced a low of C$14.47 and a high of C$26.18. The firm currently boasts a market capitalization of C$6.01 billion, a price-to-earnings (P/E) ratio of 2.37, and a price-to-earnings-growth (PEG) ratio of 0.02, along with a beta of 2.39.

Analyst Insights on Air Canada

Recent analyst reports have brought up various perspectives on Air Canada's stock. Notably, TD Cowen raised their price target for Air Canada to C$25.00, assigning a "buy" rating in a report published on November 6th. Additionally, BMO Capital Markets elevated their target price from C$29.00 to C$31.00 in a report dated December 18th. Stifel Canada upgraded the stock from a "hold" to a "strong buy" rating on November 3rd. Canaccord Genuity Group and Cormark also raised their price targets, with prices adjusted from C$25.00 to C$29.00 and from C$26.75 to C$29.50, respectively. Overall, the stock has received ten buy ratings, two hold ratings, and one strong buy rating. Market analysts currently provide an average rating of "Moderate Buy" with a consensus target price of C$26.20.

Understanding Air Canada's Business Model

Air Canada is a major airline that offers various services, including domestic flights, U.S. transborder services, and international travel. The company operates scheduled passenger services under the brands Air Canada Vacations and Air Canada Rouge within the Canadian market, as well as the Canada-U.S. transborder market, and internationally.

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