Air Canada (TSE:AC) Stock Price Breaks Above Two Hundred Day Moving Average – Should You Sell?

by · The Cerbat Gem

Air Canada (TSE:AC – Get Free Report) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$22.38 and traded as high as C$22.51. Air Canada shares last traded at C$22.48, with a volume of 3,853,295 shares.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AC. Canadian Imperial Bank of Commerce lifted their price target on Air Canada from C$26.00 to C$40.00 in a report on Friday, August 14th. Scotiabank cut their price objective on shares of Air Canada from C$37.50 to C$33.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 15th. Jefferies Financial Group cut Air Canada from a “hold” rating to a “moderate sell” rating and reduced their price target for the company from C$26.00 to C$19.00 in a report on Monday, October 19th. BMO Capital Markets reduced their price target on shares of Air Canada from C$35.00 to C$33.00 and set an “outperform” rating for the company in a research report on Friday, October 30th. Finally, Stifel Nicolaus cut their target price on shares of Air Canada from C$38.00 to C$32.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Air Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.31.

Check Out Our Latest Stock Report on Air Canada

Air Canada Price Performance

The company has a debt-to-equity ratio of 517.55, a quick ratio of 1.05 and a current ratio of 0.64. The stock has a market cap of C$5.54 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 0.02 and a beta of 1.64. The business’s fifty day simple moving average is C$25.02 and its 200 day simple moving average is C$22.40.

Air Canada (TSE:AC – Get Free Report) last released its earnings results on Thursday, October 29th. The company reported C$0.75 EPS for the quarter. The company had revenue of C$6.98 billion for the quarter. Air Canada had a return on equity of 12.10% and a net margin of 1.23%. Research analysts predict that Air Canada will post 2.58 EPS for the current fiscal year.

Air Canada Company Profile

(Get Free Report)

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.

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