Air Canada (TSE:AC) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Air Canada (TSE:AC)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$19.35 and traded as high as C$19.42. Air Canada shares last traded at C$17.75, with a volume of 7,158,971 shares trading hands.

Wall Street Analysts Forecast Growth

AC has been the topic of several research analyst reports. Jefferies Financial Group boosted their target price on shares of Air Canada from C$22.00 to C$23.00 in a research report on Monday, January 6th. CIBC lifted their price objective on Air Canada from C$27.00 to C$28.00 in a research report on Wednesday, December 4th. ATB Capital increased their target price on Air Canada from C$28.00 to C$31.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. National Bankshares boosted their price target on Air Canada from C$22.00 to C$27.00 in a report on Monday, November 4th. Finally, Scotiabank increased their price objective on Air Canada from C$26.50 to C$29.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$26.60.

Air Canada Stock Performance

The company’s fifty day moving average price is C$21.31 and its two-hundred day moving average price is C$19.35. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92. The firm has a market capitalization of C$6.33 billion, a PE ratio of 2.50, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39.

Insiders Place Their Bets

In other Air Canada news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of C$21.71, for a total transaction of C$130,246.80. 0.14% of the stock is currently owned by insiders.

About Air Canada

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.