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

Air Canada (TSE:AC) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$19.22 and traded as high as C$19.60. Air Canada shares last traded at C$19.58, with a volume of 3,222,144 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. UBS Group upgraded shares of Air Canada to a “hold” rating in a research report on Tuesday, November 18th. BMO Capital Markets reduced their price objective on Air Canada from C$28.00 to C$27.00 in a research note on Thursday, October 9th. National Bankshares boosted their target price on Air Canada from C$23.00 to C$24.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Scotiabank increased their price target on Air Canada from C$25.00 to C$26.50 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada set a C$25.00 price objective on Air Canada and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Air Canada currently has an average rating of “Moderate Buy” and a consensus target price of C$24.42.

Air Canada Price Performance

The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00. The stock has a 50-day simple moving average of C$19.22 and a 200 day simple moving average of C$19.04. The stock has a market capitalization of C$5.80 billion, a price-to-earnings ratio of -28.38, a price-to-earnings-growth ratio of 0.02 and a beta of 1.75.

Air Canada (TSE:AC) last posted its quarterly earnings results on Tuesday, November 4th. The company reported C$0.75 earnings per share (EPS) for the quarter. Air Canada had a net margin of 11.57% and a return on equity of 177.01%. The business had revenue of C$5.77 billion during the quarter. On average, equities research analysts forecast that Air Canada will post 2.5789474 EPS for the current fiscal year.

Air Canada Company Profile

Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.