Air Canada (TSE:AC) Stock Price Passes Below Fifty Day Moving Average - What's Next?

Key Points

• Air Canada shares fell below their fifty-day moving average, trading as low as C$19.11 and closing at C$19.18.
• Analysts have a mostly positive outlook, with a consensus rating of "Moderate Buy" and an average target price of C$25.63.
• Key financial metrics include a market cap of C$6.84 billion, a PE ratio of 2.70, and a debt-to-equity ratio of 400.00.

Air Canada (TSE:AC - Get Free Report) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$20.25 and traded as low as C$19.11. Air Canada shares last traded at C$19.18, with a volume of 1,380,780 shares.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Canaccord Genuity Group raised their price objective on Air Canada from C$27.00 to C$28.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Stifel Nicolaus raised their price objective on Air Canada from C$23.00 to C$25.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. National Bankshares raised their price objective on Air Canada from C$24.00 to C$26.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Royal Bank Of Canada upgraded Air Canada from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from C$16.00 to C$25.00 in a research report on Monday, May 12th. Finally, Raymond James Financial raised their price objective on Air Canada from C$24.00 to C$27.00 and gave the stock a "moderate buy" rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Air Canada presently has a consensus rating of "Moderate Buy" and an average price target of C$25.63.

Air Canada Trading Up 0.6%

The firm has a market capitalization of C$7.01 billion, a P/E ratio of 2.77, a PEG ratio of 0.02 and a beta of 2.39. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00. The business has a 50-day moving average price of C$20.28 and a 200-day moving average price of C$17.71.

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.