Air Canada (TSE:AC) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Air Canada (TSE:AC - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

AC has been the topic of a number of research analyst reports. CIBC boosted their price objective on shares of Air Canada from C$27.00 to C$28.00 in a research report on Wednesday, December 4th. Stifel Canada raised shares of Air Canada from a "hold" rating to a "strong-buy" rating in a research report on Sunday, November 3rd. ATB Capital boosted their price objective on shares of Air Canada from C$28.00 to C$31.00 and gave the company an "outperform" rating in a research report on Wednesday, December 18th. National Bankshares boosted their price objective on shares of Air Canada from C$22.00 to C$27.00 in a research report on Monday, November 4th. Finally, Canaccord Genuity Group boosted their price objective on shares of Air Canada from C$25.00 to C$29.00 in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$26.60.

Air Canada Price Performance

The stock's 50 day moving average price is C$20.99 and its two-hundred day moving average price is C$19.37. 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 firm has a market capitalization of C$6.22 billion, a price-to-earnings ratio of 2.46, a PEG ratio of 0.02 and a beta of 2.39.

Insider Transactions at Air Canada

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