Air Canada (TSE:AC) Share Price Passes Above Fifty Day Moving Average – Here’s Why

Air Canada (TSE:AC)’s share price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$16.37 and traded as high as C$19.28. Air Canada shares last traded at C$19.25, with a volume of 2,540,606 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Cormark reduced their target price on Air Canada from C$25.50 to C$21.25 in a report on Tuesday, July 23rd. JPMorgan Chase & Co. reduced their target price on Air Canada from C$41.00 to C$36.00 in a report on Thursday, August 8th. Stifel Canada raised Air Canada to a “hold” rating in a report on Tuesday, October 15th. BMO Capital Markets dropped their price target on Air Canada from C$33.00 to C$28.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Finally, National Bankshares dropped their price target on Air Canada from C$24.00 to C$22.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Air Canada has an average rating of “Moderate Buy” and an average target price of C$23.70.

Air Canada Stock Up 0.1 %

The company has a debt-to-equity ratio of 1,070.99, a current ratio of 0.85 and a quick ratio of 1.06. The business has a 50 day simple moving average of C$16.53 and a 200 day simple moving average of C$17.38. The company has a market capitalization of C$6.88 billion, a price-to-earnings ratio of 4.28, a PEG ratio of 0.02 and a beta of 2.39.

Air Canada (TSE:AC) last announced its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.85 by C$0.13. The business had revenue of C$5.52 billion for the quarter, compared to analysts’ expectations of C$5.55 billion. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. As a group, equities analysts predict that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

Insider Activity

In related news, Senior Officer Christophe Hennebelle acquired 1,900 shares of Air Canada stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of C$15.70 per share, for a total transaction of C$29,830.00. Insiders own 0.14% 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.