Air Canada (TSE:AC) Stock Price Passes Below Two Hundred Day Moving Average of $17.91

Air Canada (TSE:AC)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$17.91 and traded as low as C$15.22. Air Canada shares last traded at C$15.61, with a volume of 1,763,823 shares.

Analysts Set New Price Targets

AC has been the subject of several analyst reports. CIBC dropped their price objective on shares of Air Canada from C$28.00 to C$25.00 and set an “outperform” rating for the company in a research note on Tuesday, July 23rd. Royal Bank of Canada cut their price target on Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 23rd. Scotiabank lowered their price objective on Air Canada from C$27.00 to C$21.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. TD Securities dropped their price objective on Air Canada from C$25.00 to C$19.00 in a report on Wednesday, July 24th. Finally, Raymond James reduced their target price on Air Canada from C$28.00 to C$22.00 and set an “outperform” rating on the stock in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Air Canada presently has an average rating of “Moderate Buy” and an average price target of C$23.79.

Air Canada Stock Performance

The company has a debt-to-equity ratio of 1,070.99, a current ratio of 0.85 and a quick ratio of 1.06. The stock has a market cap of C$5.60 billion, a P/E ratio of 3.48, a PEG ratio of 0.02 and a beta of 2.39. The stock has a 50-day simple moving average of C$16.48 and a 200-day simple moving average of C$17.91.

Insider Activity

In related news, Senior Officer Christophe Hennebelle bought 1,900 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were purchased at an average price of C$15.70 per share, with a total value of C$29,830.00. 0.17% of the stock is currently owned by corporate insiders.

Air Canada Company Profile

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.