Air Canada (TSE:AC) Stock Passes Above 50 Day Moving Average – What’s Next?

Shares of Air Canada (TSE:AC) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$19.66 and traded as high as C$21.62. Air Canada shares last traded at C$21.50, with a volume of 2,374,771 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group lifted their target price on shares of Air Canada from C$17.00 to C$19.00 in a research note on Tuesday, March 31st. TD cut their price target on shares of Air Canada from C$23.00 to C$21.00 in a report on Monday, April 20th. BMO Capital Markets reduced their price target on shares of Air Canada from C$27.00 to C$26.00 in a research report on Tuesday, March 31st. Canadian Imperial Bank of Commerce decreased their price objective on Air Canada from C$25.00 to C$22.00 in a report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. lowered their price objective on Air Canada from C$27.00 to C$23.00 in a research report on Monday, May 4th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Air Canada currently has an average rating of “Moderate Buy” and a consensus price target of C$23.39.

Air Canada Price Performance

The company has a quick ratio of 1.06, a current ratio of 0.60 and a debt-to-equity ratio of 452.24. The company has a market cap of C$6.17 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 0.02 and a beta of 2.08. The stock’s 50-day simple moving average is C$19.66 and its 200 day simple moving average is C$19.34.

Air Canada (TSE:AC) last announced its quarterly earnings results on Thursday, April 30th. The company reported C($0.05) earnings per share for the quarter. The company had revenue of C$5.79 billion for the quarter. Air Canada had a net margin of 3.46% and a return on equity of 34.23%. On average, equities research analysts anticipate that Air Canada will post 2.5789474 EPS 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.