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

Air Canada (TSE:AC)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$19.86 and traded as high as C$19.93. Air Canada shares last traded at C$19.25, with a volume of 6,256,575 shares traded.

Analyst Ratings Changes

Several brokerages recently issued reports on AC. Raymond James Financial cut Air Canada from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, February 17th. UBS Group raised Air Canada to a “hold” rating in a report on Tuesday, November 18th. National Bank Financial upped their target price on Air Canada from C$24.00 to C$25.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 17th. Stifel Nicolaus increased their target price on Air Canada from C$24.00 to C$28.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce boosted their price target on Air Canada from C$23.00 to C$24.00 in a research note on Wednesday, January 21st. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$24.92.

Air Canada Stock Performance

The company has a debt-to-equity ratio of 446.78, a quick ratio of 1.06 and a current ratio of 0.56. The firm’s 50 day moving average price is C$19.84 and its 200-day moving average price is C$19.09. The firm has a market capitalization of C$5.60 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 0.02 and a beta of 1.59.

About Air Canada

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.