Air Canada (TSE:AC) Stock Price Breaks Above 50-Day Moving Average – What’s Next?

Air Canada (TSE:AC) shares crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of C$26.99 and traded as high as C$28.91. Air Canada shares last traded at C$28.17, with a volume of 3,491,613 shares.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. ATB Cormark Capital Markets raised their price target on Air Canada from C$32.00 to C$45.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. National Bank Financial boosted their price objective on shares of Air Canada from C$29.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Scotiabank raised shares of Air Canada from a “hold” rating to a “sector outperform” rating and increased their price objective for the company from C$26.00 to C$33.50 in a research note on Tuesday, August 11th. Canaccord Genuity Group raised their target price on shares of Air Canada from C$20.00 to C$26.00 and gave the company a “hold” rating in a report on Monday, July 6th. Finally, BMO Capital Markets lifted their target price on shares of Air Canada from C$30.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$32.29.

Air Canada Stock Performance

The company has a market capitalization of C$8.11 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 0.02 and a beta of 2.02. The stock has a fifty day moving average price of C$27.20 and a two-hundred day moving average price of C$22.82. The company has a quick ratio of 1.05, a current ratio of 0.60 and a debt-to-equity ratio of 478.10.

Air Canada (TSE:AC) last posted its quarterly earnings data on Tuesday, August 11th. The company reported C$0.40 EPS for the quarter. The business had revenue of C$6.27 billion for the quarter. Air Canada had a return on equity of 16.92% and a net margin of 1.82%. As a group, analysts forecast that Air Canada will post 2.5789474 EPS for the current fiscal year.

About Air Canada

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.