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

Air Canada (TSE:AC)’s stock price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$19.41 and traded as high as C$20.44. Air Canada shares last traded at C$20.16, with a volume of 1,569,888 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank Of Canada set a C$25.00 target price on Air Canada and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Canadian Imperial Bank of Commerce upped their price objective on shares of Air Canada from C$23.00 to C$24.00 in a report on Wednesday, January 21st. UBS Group upgraded shares of Air Canada to a “hold” rating in a research note on Tuesday, November 18th. National Bankshares lifted their target price on shares of Air Canada from C$23.00 to C$24.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Finally, Scotiabank increased their price target on shares of Air Canada from C$25.00 to C$26.50 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$24.42.

Air Canada Stock Down 0.2%

The stock’s fifty day simple moving average is C$19.41 and its 200-day simple moving average is C$19.00. The stock has a market cap of C$5.97 billion, a P/E ratio of -29.22, a P/E/G ratio of 0.02 and a beta of 1.59. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92.

Air Canada (TSE:AC) last released its quarterly earnings results on Tuesday, November 4th. The company reported C$0.75 earnings per share for the quarter. The company had revenue of C$5.77 billion during the quarter. Air Canada had a net margin of 11.57% and a return on equity of 177.01%. As a group, research analysts forecast that Air Canada will post 2.5789474 earnings per share 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.