Air Canada (TSE:AC) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Air Canada (TSE:AC) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Air Canada from C$29.00 to C$31.00 in a research note on Wednesday, December 18th. Jefferies Financial Group upped their price objective on shares of Air Canada from C$22.00 to C$23.00 in a report on Monday, January 6th. CIBC upped their target price on shares of Air Canada from C$27.00 to C$28.00 in a research report on Wednesday, December 4th. Canaccord Genuity Group increased their price objective on shares of Air Canada from C$25.00 to C$29.00 in a research report on Monday, November 4th. Finally, TD Cowen increased their price objective on shares of Air Canada to C$25.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$26.60.

Air Canada Price Performance

The stock has a market capitalization of C$6.33 billion, a PE ratio of 2.50, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06. The company has a 50-day moving average of C$21.15 and a two-hundred day moving average of C$19.37.

Insiders Place Their Bets

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