Air Canada (TSE:AC) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Air Canada (TSE:AC) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$18.46 and traded as high as C$24.47. Air Canada shares last traded at C$22.59, with a volume of 8,386,983 shares trading hands.

Analyst Ratings Changes

AC has been the topic of a number of research reports. Scotiabank boosted their target price on shares of Air Canada from C$24.00 to C$26.50 in a research report on Monday, November 4th. Citigroup lifted their price objective on Air Canada from C$21.00 to C$28.50 in a report on Monday, November 18th. Jefferies Financial Group boosted their price objective on Air Canada from C$18.00 to C$22.00 in a research report on Tuesday, November 5th. Canaccord Genuity Group raised their target price on Air Canada from C$25.00 to C$29.00 in a research report on Monday, November 4th. Finally, Stifel Nicolaus upgraded shares of Air Canada from a “hold” rating to a “buy” rating and increased their price objective for the company from C$20.00 to C$25.50 in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$25.82.

Air Canada Stock Down 9.3 %

The firm has a market cap of C$8.10 billion, a price-to-earnings ratio of 5.04, a PEG ratio of 0.02 and a beta of 2.39. The business’s 50-day moving average is C$21.93 and its 200-day moving average is C$18.46. The company has a debt-to-equity ratio of 1,070.99, a quick ratio of 1.06 and a current ratio of 0.85.

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.