Air Canada (TSE:AC) Share Price Passes Above 50 Day Moving Average of $15.90

Shares of Air Canada (TSE:AC) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$15.90 and traded as high as C$16.65. Air Canada shares last traded at C$16.33, with a volume of 1,728,676 shares traded.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. CIBC dropped their target price on Air Canada from C$28.00 to C$25.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 23rd. Royal Bank of Canada dropped their target price on Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 23rd. BMO Capital Markets dropped their target price on Air Canada from C$33.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. ATB Capital dropped their target price on Air Canada from C$27.00 to C$26.50 and set an “outperform” rating on the stock in a research note on Tuesday, September 10th. Finally, Raymond James dropped their target price on Air Canada from C$28.00 to C$22.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Air Canada presently has an average rating of “Moderate Buy” and a consensus price target of C$23.75.

Air Canada Stock Down 0.7 %

The business’s 50 day moving average is C$15.90 and its 200-day moving average is C$17.61. The stock has a market cap of C$5.85 billion, a price-to-earnings ratio of 3.65, a PEG ratio of 0.02 and a beta of 2.39. The company has a debt-to-equity ratio of 1,070.99, a quick ratio of 1.06 and a current ratio of 0.85.

Air Canada (TSE:AC) last released its quarterly earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.85 by C$0.13. The firm had revenue of C$5.52 billion for the quarter, compared to analysts’ expectations of C$5.55 billion. Air Canada had a net margin of 7.92% and a return on equity of 603.77%. On average, sell-side analysts predict that Air Canada will post 2.8336192 EPS for the current fiscal year.

Insider Buying and Selling at Air Canada

In other news, Senior Officer Christophe Hennebelle acquired 1,900 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were bought at an average price of C$15.70 per share, for a total transaction of C$29,830.00. 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.