Shares of Air Canada (TSE:AC – Get Free Report) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$18.64 and traded as high as C$19.43. Air Canada shares last traded at C$19.04, with a volume of 3,034,653 shares trading hands.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. Scotiabank lowered their price objective on Air Canada from C$30.00 to C$29.00 and set an “outperform” rating for the company in a research report on Thursday, March 28th. ATB Capital reduced their target price on Air Canada from C$33.00 to C$32.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 20th. TD Securities boosted their target price on Air Canada from C$30.00 to C$34.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada set a C$18.00 target price on Air Canada and gave the company a “sector perform” rating in a research note on Thursday, April 4th. Finally, National Bankshares set a C$31.00 target price on Air Canada and gave the company an “outperform” rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Air Canada presently has an average rating of “Moderate Buy” and a consensus price target of C$30.35.
Get Our Latest Research Report on AC
Air Canada Stock Performance
Air Canada (TSE:AC – Get Free Report) last announced its quarterly earnings results on Friday, February 16th. The company reported C($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.05) by C($0.07). The firm had revenue of C$5.18 billion during the quarter, compared to analysts’ expectations of C$5.05 billion. On average, sell-side analysts expect that Air Canada will post 2.9565217 EPS for the current year.
Insider Buying and Selling at Air Canada
In related news, Senior Officer Mark Youssef Nasr purchased 2,406 shares of Air Canada stock in a transaction on Thursday, February 29th. The stock was acquired at an average price of C$18.21 per share, for a total transaction of C$43,823.37. 0.17% of the stock is owned by corporate 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.
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