Air Canada (TSE:AC) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Air Canada (TSE:AC)’s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$16.32 and traded as high as C$19.22. Air Canada shares last traded at C$18.83, with a volume of 1,949,697 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AC shares. Royal Bank of Canada raised Air Canada from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$16.00 to C$25.00 in a research report on Monday, May 12th. Stifel Nicolaus upped their target price on shares of Air Canada from C$22.00 to C$23.00 in a research note on Monday, May 12th. Jefferies Financial Group downgraded shares of Air Canada from a “hold” rating to an “underperform” rating and lowered their target price for the company from C$18.00 to C$12.00 in a report on Tuesday, April 1st. Canaccord Genuity Group raised their price target on shares of Air Canada from C$24.00 to C$27.00 in a research report on Monday, May 12th. Finally, Scotiabank reduced their price objective on shares of Air Canada from C$25.00 to C$21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$24.31.

Air Canada Trading Down 1.7%

The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00. The firm has a market cap of C$6.72 billion, a P/E ratio of 2.65, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The firm’s 50-day simple moving average is C$16.32 and its 200 day simple moving average is C$18.45.

Insider Buying and Selling

In other Air Canada news, Senior Officer Craig Landry acquired 7,909 shares of the company’s stock in a transaction on Monday, March 31st. The shares were acquired at an average cost of C$13.99 per share, with a total value of C$110,646.91. 0.14% of the stock is currently owned by insiders.

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.