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

Shares of Air Canada (TSE:AC) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$26.57 and traded as high as C$28.22. Air Canada shares last traded at C$27.58, with a volume of 2,550,539 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. ATB Cormark Capital Markets lifted their price objective on Air Canada from C$32.00 to C$45.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Royal Bank Of Canada raised their target price on shares of Air Canada from C$28.00 to C$37.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Stifel Nicolaus increased their price target on shares of Air Canada from C$30.00 to C$38.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Canaccord Genuity Group upped their target price on Air Canada from C$20.00 to C$26.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Finally, National Bank Financial upped their price objective on Air Canada from C$29.00 to C$40.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$32.29.

Air Canada Stock Up 0.7%

The firm’s 50-day moving average is C$26.61 and its 200 day moving average is C$22.39. The stock has a market cap of C$7.74 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 0.02 and a beta of 2.02. The company has a debt-to-equity ratio of 478.10, a current ratio of 0.60 and a quick ratio of 1.05.

Air Canada (TSE:AC) last posted its quarterly earnings results on Tuesday, August 11th. The company reported C$0.40 earnings per share (EPS) for the quarter. The firm had revenue of C$6.27 billion during the quarter. Air Canada had a return on equity of 16.92% and a net margin of 1.82%. Sell-side analysts anticipate that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

About Air Canada

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.