Air Canada (TSE:AC) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Air Canada (TSE:AC) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-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 traded.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AC shares. ATB Capital upped their target price on shares of Air Canada from C$28.00 to C$31.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lowered shares of 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. Citigroup reduced their target price on shares of 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. Stifel Nicolaus lowered their price target on Air Canada from C$28.00 to C$26.00 in a research note on Tuesday, February 18th. Finally, Scotiabank raised their price objective on Air Canada from C$26.50 to C$29.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$25.20.

Air Canada Stock Up 0.2 %

The firm has a 50-day simple moving average of C$17.98 and a 200 day simple moving average of C$19.45. The stock has a market capitalization of C$5.43 billion, a P/E ratio of 2.14, 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.

Insider Buying and Selling

In related news, Director Vagn Sorensen bought 11,440 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were 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 acquired 13,644 shares of the business’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of C$16.75 per share, for a total transaction of C$228,546.55. 0.14% of the stock is owned by 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.