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Air Canada (ACDVF) Stock Sinks As Market Gains: What You Should Know
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Air Canada (ACDVF - Free Report) closed at $14 in the latest trading session, marking a -1.21% move from the prior day. This change lagged the S&P 500's 0.4% gain on the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.45%.
Prior to today's trading, shares of the company had lost 13.88% over the past month. This has lagged the Transportation sector's loss of 3.22% and the S&P 500's loss of 1.38% in that time.
Air Canada will be looking to display strength as it nears its next earnings release.
Any recent changes to analyst estimates for Air Canada should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Air Canada is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Air Canada's current valuation metrics, including its Forward P/E ratio of 7.58. This valuation marks a premium compared to its industry's average Forward P/E of 7.54.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Air Canada (ACDVF) Stock Sinks As Market Gains: What You Should Know
Air Canada (ACDVF - Free Report) closed at $14 in the latest trading session, marking a -1.21% move from the prior day. This change lagged the S&P 500's 0.4% gain on the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.45%.
Prior to today's trading, shares of the company had lost 13.88% over the past month. This has lagged the Transportation sector's loss of 3.22% and the S&P 500's loss of 1.38% in that time.
Air Canada will be looking to display strength as it nears its next earnings release.
Any recent changes to analyst estimates for Air Canada should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Air Canada is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Air Canada's current valuation metrics, including its Forward P/E ratio of 7.58. This valuation marks a premium compared to its industry's average Forward P/E of 7.54.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.