Air Canada (TSE:AC) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Air Canada (TSE:AC) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-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 traded.

Analysts Set New Price Targets

AC has been the subject of several research analyst reports. Jefferies Financial Group boosted their price objective on Air Canada from C$22.00 to C$23.00 in a report on Monday, January 6th. Canaccord Genuity Group increased their price objective on Air Canada from C$25.00 to C$29.00 in a research report on Monday, November 4th. Scotiabank boosted their target price on shares of Air Canada from C$26.50 to C$29.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. ATB Capital upped their price target on shares of Air Canada from C$28.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Finally, Stifel Nicolaus upped their price objective on shares of Air Canada from C$25.50 to C$28.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Air Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of C$26.60.

Air Canada Stock Performance

The firm has a market cap of C$6.33 billion, a P/E ratio of 2.50, a P/E/G ratio of 0.02 and a beta of 2.39. 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 is C$21.15 and its 200 day moving average is C$19.37.

Insider Activity

In related news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of Air Canada stock in a transaction 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. Insiders own 0.14% of the company’s stock.

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.