Air Canada (TSE:AC) Share Price Breaks Above Two Hundred Day Moving Average – Time to Sell?

Air Canada (TSE:AC) shares crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$22.38 and traded as high as C$22.51. Air Canada shares last traded at C$22.48, with a volume of 3,853,295 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AC shares. Canaccord Genuity Group upgraded Air Canada from a “hold” rating to a “buy” rating and lowered their target price for the stock from C$29.00 to C$25.00 in a research note on Thursday, October 22nd. Canadian Imperial Bank of Commerce lifted their target price on Air Canada from C$26.00 to C$40.00 in a report on Friday, August 14th. Royal Bank Of Canada dropped their price objective on Air Canada from C$37.00 to C$28.00 and set an “outperform” rating for the company in a research note on Monday. ATB Cormark Capital Markets decreased their price target on shares of Air Canada from C$45.00 to C$43.00 and set an “outperform” rating on the stock in a report on Tuesday, October 27th. Finally, Stifel Nicolaus reduced their target price on Air Canada from C$38.00 to C$32.00 and set a “buy” rating on the stock in a research note on Thursday, October 29th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$30.31.

Air Canada Price Performance

The business’s 50-day simple moving average is C$25.27 and its 200-day simple moving average is C$22.38. The stock has a market cap of C$5.68 billion, a PE ratio of 22.71, a PEG ratio of 0.02 and a beta of 1.64. The company has a quick ratio of 1.05, a current ratio of 0.64 and a debt-to-equity ratio of 517.55.

Air Canada (TSE:AC) last issued its quarterly earnings data on Thursday, October 29th. The company reported C$0.75 earnings per share (EPS) for the quarter. The business had revenue of C$6.98 billion for the quarter. Air Canada had a net margin of 1.23% and a return on equity of 12.10%. On average, research analysts expect that Air Canada will post 2.58 EPS for the current fiscal year.

Air Canada Company Profile

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.