Air Canada (TSE:AC) Shares Cross Below 50 Day Moving Average - Time to Sell?

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)'s share price passed below its fifty day moving average during trading on Monday . The stock has a fifty 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 trading hands.

Analyst Upgrades and Downgrades

AC has been the subject of several recent research reports. Citigroup set a C$25.00 target price on shares of Air Canada and gave the stock a "buy" rating in a research report on Monday, June 30th. Raymond James Financial upped their price objective on shares of Air Canada from C$24.00 to C$27.00 and gave the stock a "moderate buy" rating in a report on Tuesday, July 22nd. Scotiabank upped their price objective on shares of Air Canada from C$24.00 to C$27.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Canaccord Genuity Group upped their price objective on shares of Air Canada from C$27.00 to C$28.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada raised shares of Air Canada from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from C$16.00 to C$25.00 in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Air Canada has an average rating of "Moderate Buy" and a consensus price target of C$25.63.

Air Canada Stock Up 0.6%

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 company has a market capitalization of C$7.05 billion, a price-to-earnings ratio of 2.78, a P/E/G ratio of 0.02 and a beta of 2.39. The stock's fifty day moving average price is C$20.33 and its 200-day moving average price is 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.