Air Canada (TSE:AC) Share Price Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• Air Canada shares crossed above their 50-day moving average, reaching C$28.22 before last trading at C$27.58 on volume of about 2.55 million shares.
• Analysts have raised their price targets significantly, with recent targets ranging from C$37 to C$45. The stock holds a “Moderate Buy” consensus rating, supported by eight Buy ratings and three Holds, with an average target of C$32.29.
• In its latest quarter, Air Canada reported C$0.40 in earnings per share and C$6.27 billion in revenue, while maintaining a high debt-to-equity ratio of 478.10.

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$26.57 and traded as high as C$28.22. Air Canada shares last traded at C$27.58, with a volume of 2,550,539 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AC shares. BMO Capital Markets increased their price objective on shares of Air Canada from C$30.00 to C$37.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. ATB Cormark Capital Markets boosted their price objective on shares of Air Canada from C$32.00 to C$45.00 and gave the stock an "outperform" rating in a research note on Thursday, August 13th. Canadian Imperial Bank of Commerce upped their target price on Air Canada from C$26.00 to C$40.00 in a report on Friday, August 14th. National Bank Financial increased their target price on Air Canada from C$29.00 to C$40.00 and gave the company an "outperform" rating in a research report on Thursday, August 13th. Finally, Stifel Nicolaus lifted their price target on Air Canada from C$30.00 to C$38.00 and gave the company a "buy" rating in a report on Wednesday, August 19th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Air Canada currently has a consensus rating of "Moderate Buy" and an average price target of C$32.29.

Air Canada Stock Up 0.2%

The company has a 50-day moving average of C$26.57 and a 200-day moving average of C$22.34. The company has a current ratio of 0.60, a quick ratio of 1.05 and a debt-to-equity ratio of 478.10. The company has a market capitalization of C$7.73 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 0.02 and a beta of 2.02.

Air Canada (TSE:AC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported C$0.40 earnings per share for the quarter. Air Canada had a return on equity of 16.92% and a net margin of 1.82%.The business had revenue of C$6.27 billion during the quarter. On average, equities analysts predict that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

About Air Canada

Air Canada is Canada's largest airline, the country's flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada's Aeroplan program is Canada's premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world's largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.

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