Air Canada (TSE:AC) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Shares of 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 traded.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AC shares. CIBC increased their price target on Air Canada from C$27.00 to C$28.00 in a research report on Wednesday, December 4th. TD Cowen increased their price target on Air Canada to C$25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Stifel Nicolaus raised their target price on Air Canada from C$25.50 to C$28.00 and gave the company a “buy” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. raised their target price on Air Canada from C$32.00 to C$34.00 in a research report on Monday, November 4th. Finally, Citigroup dropped their target price on Air Canada from C$28.50 to C$26.50 and set a “buy” rating on the stock in a research report on Monday, December 30th. Two 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 company’s stock. Based on data from MarketBeat.com, Air Canada currently has an average rating of “Moderate Buy” and an average target price of C$26.60.

Air Canada Trading Down 2.6 %

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’s 50 day simple moving average is C$21.15 and its 200 day simple moving average is C$19.37. The firm has a market cap of C$6.33 billion, a price-to-earnings ratio of 2.50, a P/E/G ratio of 0.02 and a beta of 2.39.

Insider Activity

In other news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$21.71, for a total value of C$130,246.80. Corporate insiders own 0.14% of the company’s stock.

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.