Air Canada (TSE:AC) Stock Passes Above 50-Day Moving Average - Should You Sell?

Air Canada (TSE:AC - Get Free Report)'s stock 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 trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada raised Air Canada from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from C$16.00 to C$25.00 in a research note on Monday, May 12th. Stifel Nicolaus lifted their price objective on Air Canada from C$22.00 to C$23.00 in a research note on Monday, May 12th. CIBC dropped their price objective on Air Canada from C$24.00 to C$21.00 in a research note on Thursday, April 10th. Raymond James Financial lowered their target price on Air Canada from C$28.00 to C$24.00 in a research note on Tuesday, May 6th. Finally, BMO Capital Markets reduced their price target on 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$24.41.

Air Canada Stock Performance

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 stock has a 50 day simple moving average of C$19.77 and a 200 day simple moving average of C$17.86. The company has a market capitalization of C$7.49 billion, a price-to-earnings ratio of 2.96, a P/E/G ratio of 0.02 and a beta of 2.39.

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.