Air Canada (TSE:AC) Stock Crosses Below Two Hundred Day Moving Average - Time to Sell?

Shares of Air Canada (TSE:AC - Get Free Report) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$19.45 and traded as low as C$15.19. Air Canada shares last traded at C$15.22, with a volume of 3,246,600 shares.

Wall Street Analysts Forecast Growth

AC has been the subject of several recent analyst reports. Citigroup decreased their price target on Air Canada from C$28.50 to C$26.50 and set a "buy" rating for the company in a research note on Monday, December 30th. JPMorgan Chase & Co. downgraded Air Canada from an "overweight" rating to a "neutral" rating and cut their price objective for the company from C$34.00 to C$24.00 in a research report on Monday, March 3rd. BMO Capital Markets upped 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 lowered their target price on Air Canada from C$23.00 to C$18.00 in a research note on Monday, February 24th. Finally, Raymond James upgraded shares of Air Canada to a "moderate buy" rating in a report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$25.20.

Air Canada Stock Up 0.2 %

The firm has a 50 day moving average of C$17.85 and a 200-day moving average of C$19.47. 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 stock has a market capitalization of C$5.43 billion, a P/E ratio of 2.14, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39.

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Insider Activity

In other news, Director Vagn Sorensen bought 11,440 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was bought at an average price of C$17.40 per share, for a total transaction of C$199,057.14. Also, Senior Officer Craig Landry bought 13,644 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of C$16.75 per share, for a total transaction of C$228,546.55. 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.