Air Canada (TSE:AC) Stock Passes Below Two Hundred Day Moving Average of $18.59

Air Canada (TSE:AC) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$18.59 and traded as low as C$18.30. Air Canada shares last traded at C$18.41, with a volume of 2,529,567 shares.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Scotiabank cut their price target on shares of Air Canada from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. TD Securities dropped their price target on shares of Air Canada from C$34.00 to C$33.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. National Bankshares dropped their price target on shares of Air Canada from C$31.00 to C$30.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Air Canada from C$38.00 to C$41.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Finally, Canaccord Genuity Group boosted their price target on shares of Air Canada from C$31.00 to C$32.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.12.

Air Canada Trading Down 0.1 %

The company has a fifty day simple moving average of C$19.18 and a 200-day simple moving average of C$18.59. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,767.66. The stock has a market cap of C$6.60 billion, a price-to-earnings ratio of 3.19, a P/E/G ratio of 0.02 and a beta of 2.40.

Air Canada (TSE:AC) last posted its quarterly earnings data on Thursday, May 2nd. The company reported C($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.15) by C($0.12). The business had revenue of C$5.23 billion during the quarter, compared to analysts’ expectations of C$5.13 billion. On average, research analysts forecast that Air Canada will post 3.191453 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Air Canada news, Senior Officer Mark Youssef Nasr bought 2,406 shares of the stock in a transaction on Thursday, February 29th. The shares were bought at an average price of C$18.21 per share, with a total value of C$43,823.37. Corporate insiders own 0.17% 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.