Air Canada (TSE:AC) Stock Price Crosses Above Fifty Day Moving Average - Time to Sell?

Key Points

• Air Canada shares crossed above their 50-day moving average, reaching C$28.18 before closing at C$27.64, compared with a 50-day average of C$25.78.
• Analyst sentiment is broadly positive: eight analysts rate the stock Buy and three rate it Hold, producing a “Moderate Buy” consensus and an average price target of C$32.29.
• The company reported quarterly EPS of C$0.40 on C$6.27 billion in revenue, but its balance sheet shows significant leverage, including a debt-to-equity ratio of 478.10.

Air Canada (TSE:AC - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$25.78 and traded as high as C$28.18. Air Canada shares last traded at C$27.64, with a volume of 1,391,499 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. ATB Cormark Capital Markets upped their target price on Air Canada from C$32.00 to C$45.00 and gave the company an "outperform" rating in a research report on Thursday, August 13th. UBS Group boosted their price objective on Air Canada from C$24.00 to C$33.00 in a research note on Thursday, August 13th. JPMorgan Chase & Co. lowered their target price on shares of Air Canada from C$27.00 to C$23.00 in a research report on Monday, May 4th. BMO Capital Markets upped their price target on shares of Air Canada from C$30.00 to C$37.00 and gave the company an "outperform" rating in a research report on Wednesday, August 12th. Finally, Scotiabank upgraded shares of Air Canada from a "hold" rating to a "sector outperform" rating and increased their price target for the stock from C$26.00 to C$33.50 in a research note on Tuesday, August 11th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$32.29.

Air Canada Stock Down 1.5%

The firm's fifty day simple moving average is C$25.78 and its 200-day simple moving average is C$21.73. The company has a market cap of C$7.74 billion, a PE ratio of 21.10, a P/E/G ratio of 0.02 and a beta of 2.02. The company has a quick ratio of 1.05, a current ratio of 0.60 and a debt-to-equity ratio of 478.10.

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

Air Canada Company Profile

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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