Air Canada (TSE:AC) Share Price Passes Above 50 Day Moving Average of $15.90

Air Canada (TSE:AC - Get Free Report) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$15.90 and traded as high as C$16.65. Air Canada shares last traded at C$16.33, with a volume of 1,728,676 shares traded.Wall Street Analyst Weigh InAurora Cannabis Earnings Reveal a Turning Tide for the StockA number of analysts have commented on AC shares. BMO Capital Markets reduced their price target on Air Canada from C$33.00 to C$28.00 and set an "outperform" rating for the company in a research report on Wednesday, July 24th. Citigroup dropped their price objective on Air Canada from C$25.00 to C$21.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st. Royal Bank of Canada dropped their price objective on Air Canada from C$18.00 to C$17.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. dropped their price objective on Air Canada from C$41.00 to C$36.00 in a research note on Thursday, August 8th. Finally, CIBC dropped their price objective on Air Canada from C$28.00 to C$25.00 and set an "outperform" rating for the company in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$23.75.View Our Latest Report on ACAir Canada Price PerformanceHow to invest in airline stocksThe company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99. The stock has a market capitalization of C$5.85 billion, a P/E ratio of 3.65, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The stock has a 50 day moving average of C$15.90 and a 200-day moving average of C$17.61. Air Canada (TSE:AC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$0.85 by C$0.13. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. The firm had revenue of C$5.52 billion during the quarter, compared to analyst estimates of C$5.55 billion. On average, equities research analysts anticipate that Air Canada will post 2.8336192 earnings per share for the current fiscal year. Insider Buying and Selling at Air CanadaIn other news, Senior Officer Christophe Hennebelle bought 1,900 shares of the firm's stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of C$15.70 per share, with a total value of C$29,830.00. 0.14% of the stock is currently owned by corporate insiders. Air Canada Company Profile (Get Free Report)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.Featured StoriesFive stocks we like better than Air CanadaWhat is the Shanghai Stock Exchange Composite Index?Edgewise Therapeutics Soars 50%: Key Reasons Behind the SurgeWhat is Forex and How Does it Work? How the Fed’s Rate Cut Could Supercharge These 3 ETFsHealth Care Stocks Explained: Why You Might Want to InvestMicrosoft Stock: 3 Reasons It’s Ready to Crush Q4This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.→ Who are Nvidia’s New Silent Partners? (From Weiss Ratings) (Ad)Should you invest $1,000 in Air Canada right now?Before you consider Air Canada, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Air Canada wasn't on the list.While Air Canada currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here