Air Canada (TSE:AC) Stock Crosses Above Fifty Day Moving Average – Should You Sell?
by Amy Steele · The Cerbat GemShares of Air Canada (TSE:AC – Get Free Report) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$18.53 and traded as high as C$19.56. Air Canada shares last traded at C$19.48, with a volume of 3,967,691 shares traded.
Analysts Set New Price Targets
Several research firms recently weighed in on AC. National Bankshares lowered Air Canada from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from C$26.00 to C$22.00 in a research report on Wednesday, September 24th. TD Securities dropped their target price on shares of Air Canada from C$25.00 to C$22.00 in a report on Friday, September 26th. CIBC decreased their price target on shares of Air Canada from C$24.00 to C$22.00 and set an “outperform” rating for the company in a research note on Friday, September 26th. Stifel Nicolaus lowered their price target on shares of Air Canada from C$25.00 to C$24.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Finally, UBS Group upgraded shares of Air Canada to a “hold” rating in a report on Tuesday, November 18th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.08.
Read Our Latest Report on Air Canada
Air Canada Stock Performance
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 has a market capitalization of C$5.77 billion, a P/E ratio of -28.23, a price-to-earnings-growth ratio of 0.02 and a beta of 1.58. The business’s 50 day simple moving average is C$18.53 and its two-hundred day simple moving average is C$19.24.
Air Canada (TSE:AC – Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The company reported C$0.75 EPS for the quarter. Air Canada had a net margin of 11.57% and a return on equity of 177.01%. The firm had revenue of C$5.77 billion for the quarter. Sell-side analysts anticipate that Air Canada will post 2.5789474 EPS for the current fiscal year.
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.