Air Canada (TSE:AC) Stock Price Passes Above Fifty Day Moving Average - Here's Why

Air Canada (TSE:AC - Get Free Report) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$15.27 and traded as high as C$18.94. Air Canada shares last traded at C$18.79, with a volume of 846,345 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AC. BMO Capital Markets reduced their price objective on Air Canada from C$31.00 to C$29.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. Royal Bank of Canada raised Air Canada from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from C$16.00 to C$25.00 in a research report on Monday, May 12th. Stifel Nicolaus raised their target price on Air Canada from C$22.00 to C$23.00 in a research report on Monday, May 12th. National Bankshares decreased their target price on Air Canada from C$27.00 to C$23.00 in a research report on Thursday, April 10th. Finally, CIBC decreased their target price on Air Canada from C$24.00 to C$21.00 in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$24.31.

Air Canada Trading Down 1.7%

The company has a fifty day simple moving average of C$15.60 and a two-hundred day simple moving average of C$18.77. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06. The company has a market capitalization of C$6.86 billion, a P/E ratio of 2.71, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39.

Insider Buying and Selling at Air Canada

In other Air Canada news, Senior Officer Craig Landry acquired 7,909 shares of the company's stock in a transaction dated Monday, March 31st. The shares were acquired at an average cost of C$13.99 per share, for a total transaction of C$110,646.91. Corporate insiders own 0.14% of the company's stock.

About Air Canada

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.