Air Canada (TSE:AC) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Air Canada (TSE:AC)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$19.35 and traded as high as C$19.42. Air Canada shares last traded at C$17.75, with a volume of 7,158,971 shares traded.

Wall Street Analyst Weigh In

AC has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their price target on shares of Air Canada from C$22.00 to C$23.00 in a report on Monday, January 6th. ATB Capital boosted their price objective on shares of Air Canada from C$28.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. TD Cowen boosted their price objective on shares of Air Canada to C$25.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Cormark lifted their target price on shares of Air Canada from C$26.75 to C$29.50 in a report on Wednesday, December 18th. Finally, BMO Capital Markets boosted their price objective on shares of Air Canada from C$29.00 to C$31.00 in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$26.60.

Air Canada Trading Down 2.6 %

The firm has a market capitalization of C$6.33 billion, a P/E ratio of 2.50, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The stock’s 50-day simple moving average is C$21.15 and its two-hundred day simple moving average is C$19.37. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06.

Insider Buying and Selling

In other Air Canada news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of C$21.71, for a total transaction of C$130,246.80. 0.14% of the stock is owned by company insiders.

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.