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

Air Canada (TSE:AC) crossed 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 Analysts Forecast Growth

Several research analysts have commented on AC shares. Citigroup decreased their price objective on shares of Air Canada from C$28.50 to C$26.50 and set a “buy” rating for the company in a report on Monday, December 30th. Raymond James upgraded shares of Air Canada to a “moderate buy” rating in a report on Tuesday, December 17th. Stifel Nicolaus reduced their target price on shares of Air Canada from C$28.00 to C$26.00 in a research report on Tuesday, February 18th. CIBC reduced their target price on shares of Air Canada from C$28.00 to C$24.00 in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group reduced their target price on shares of Air Canada from C$23.00 to C$18.00 in a research report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Air Canada presently has an average rating of “Moderate Buy” and a consensus target price of C$25.20.

Air Canada Stock Down 1.0 %

The company’s 50 day simple moving average is C$18.12 and its 200-day simple moving average is C$19.45. The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00. The firm has a market cap of C$5.43 billion, a P/E ratio of 2.14, a PEG ratio of 0.02 and a beta of 2.39.

Insider Transactions at Air Canada

In other news, Director Vagn Sorensen bought 11,440 shares of the firm’s stock in a transaction on 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 bought 13,644 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were purchased at an average price of C$16.75 per share, for a total transaction of C$228,546.55. Company insiders own 0.14% of the company’s stock.

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.