Air Canada (TSE:AC) Shares Pass Above 50 Day Moving Average – What’s Next?

Air Canada (TSE:AC) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$18.67 and traded as high as C$18.76. Air Canada shares last traded at C$18.52, with a volume of 1,812,639 shares traded.

Analyst Ratings Changes

A number of research analysts recently commented on AC shares. Raymond James Financial downgraded Air Canada from a “moderate buy” rating to a “hold” rating in a report on Tuesday, February 17th. Stifel Nicolaus increased their price target on Air Canada from C$24.00 to C$28.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Scotiabank downgraded Air Canada from an “outperform” rating to a “hold” rating and reduced their price target for the company from C$27.00 to C$21.00 in a report on Tuesday, March 10th. Royal Bank Of Canada cut their price target on shares of Air Canada from C$25.00 to C$22.00 in a report on Monday, April 13th. Finally, BMO Capital Markets cut their price target on shares of Air Canada from C$27.00 to C$26.00 in a report on Tuesday, March 31st. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.69.

Air Canada Price Performance

The company has a 50 day simple moving average of C$18.67 and a 200-day simple moving average of C$18.90. The stock has a market cap of C$5.46 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 0.02 and a beta of 1.56. The company has a quick ratio of 1.06, a current ratio of 0.56 and a debt-to-equity ratio of 446.78.

Air Canada Company Profile

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.