Air Canada (TSE:AC) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Air Canada (TSE:AC)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$19.35 and traded as high as C$19.42. Air Canada shares last traded at C$17.75, with a volume of 7,158,971 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AC. Canaccord Genuity Group raised their price target on Air Canada from C$25.00 to C$29.00 in a research report on Monday, November 4th. Scotiabank boosted their price objective on shares of Air Canada from C$26.50 to C$29.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. BMO Capital Markets increased their target price on shares of Air Canada from C$29.00 to C$31.00 in a research report on Wednesday, December 18th. ATB Capital lifted their price objective on Air Canada from C$28.00 to C$31.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Finally, Cormark increased their target price on shares of Air Canada from C$26.75 to C$29.50 in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Air Canada currently has a consensus rating of “Moderate Buy” and an average price target of C$26.60.

Air Canada Stock Performance

The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92. The company’s 50 day moving average price is C$21.31 and its 200-day moving average price is C$19.35. The stock has a market cap of C$6.33 billion, a P/E ratio of 2.50, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39.

Insider Activity

In other news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$21.71, for a total transaction of C$130,246.80. 0.14% of the stock is currently owned by corporate insiders.

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.