Air Canada (TSE:AC) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Air Canada (TSE:AC) shares 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 trading hands.

Analyst Upgrades and Downgrades

AC has been the subject of several recent analyst reports. Canaccord Genuity Group raised their target price on Air Canada from C$25.00 to C$29.00 in a research note on Monday, November 4th. Cormark increased their target price on shares of Air Canada from C$26.75 to C$29.50 in a report on Wednesday, December 18th. JPMorgan Chase & Co. raised their price target on Air Canada from C$32.00 to C$34.00 in a report on Monday, November 4th. TD Cowen boosted their target price on shares of Air Canada to C$25.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Scotiabank increased their price target on 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. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$26.60.

Air Canada Price Performance

The stock has a 50-day moving average of C$21.31 and a two-hundred day moving average of C$19.35. The firm has a market cap of C$6.33 billion, a price-to-earnings ratio of 2.50, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00.

Insiders Place Their Bets

In related news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of C$21.71, for a total transaction of C$130,246.80. Corporate insiders own 0.14% of the company’s stock.

Air Canada Company Profile

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.