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

Air Canada (TSE:AC - Get Free Report)'s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$19.36 and traded as high as C$22.72. Air Canada shares last traded at C$22.35, with a volume of 1,863,216 shares.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AC. BMO Capital Markets cut their price objective on shares of Air Canada from C$31.00 to C$29.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Canaccord Genuity Group lifted their target price on shares of Air Canada from C$24.00 to C$27.00 in a research report on Monday, May 12th. Jefferies Financial Group downgraded shares of Air Canada from a "hold" rating to an "underperform" rating and lowered their price objective for the company from C$18.00 to C$12.00 in a research report on Tuesday, April 1st. CIBC decreased their price objective on shares of Air Canada from C$24.00 to C$21.00 in a report on Thursday, April 10th. Finally, Raymond James Financial dropped their price objective on shares of Air Canada from C$28.00 to C$24.00 in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Air Canada has a consensus rating of "Moderate Buy" and an average target price of C$24.41.

Air Canada Price Performance

The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00. The stock has a market capitalization of C$7.67 billion, a P/E ratio of 3.03, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The stock has a 50 day moving average of C$19.64 and a 200-day moving average of C$17.87.

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.