Air Canada (TSE:AC) Stock Price Passes Above 50 Day Moving Average of $18.34

Air Canada (TSE:ACGet Free Report) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$18.34 and traded as high as C$19.74. Air Canada shares last traded at C$19.64, with a volume of 1,694,434 shares trading hands.

Analyst Ratings Changes

Several research firms have recently issued reports on AC. Scotiabank raised their price objective on Air Canada from C$29.00 to C$30.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. BMO Capital Markets reissued a “buy” rating and issued a C$32.00 price target on shares of Air Canada in a research note on Tuesday, February 20th. TD Securities upped their price objective on shares of Air Canada from C$30.00 to C$34.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. increased their price objective on shares of Air Canada from C$38.00 to C$41.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Finally, ATB Capital lowered their target price on shares of Air Canada from C$33.00 to C$32.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.12.

Read Our Latest Stock Report on Air Canada

Air Canada Trading Up 0.9 %

The stock has a market capitalization of C$7.04 billion, a PE ratio of 3.30, a PEG ratio of 0.02 and a beta of 2.40. The company has a current ratio of 1.02, a quick ratio of 1.06 and a debt-to-equity ratio of 1,741.46. The business’s 50-day moving average is C$18.34 and its two-hundred day moving average is C$18.36.

Air Canada (TSE:ACGet Free Report) last issued its earnings results on Friday, February 16th. The company reported C($0.12) earnings per share for the quarter, missing the consensus estimate of C($0.05) by C($0.07). The firm had revenue of C$5.18 billion during the quarter, compared to the consensus estimate of C$5.05 billion. On average, analysts predict that Air Canada will post 2.9514107 earnings per share for the current year.

Insider Buying and Selling at Air Canada

In other news, Senior Officer Mark Youssef Nasr purchased 2,406 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were purchased at an average price of C$18.21 per share, with a total value of C$43,823.37. 0.17% of the stock is owned by corporate insiders.

Air Canada Company Profile

(Get Free Report)

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.

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