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Air Canada (ACDVF) Increases Yet Falls Behind Market: What Investors Need to Know
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In the latest trading session, Air Canada (ACDVF - Free Report) closed at $13.93, marking a +0.87% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.18%. On the other hand, the Dow registered a gain of 0.87%, and the technology-centric Nasdaq increased by 1.6%.
Coming into today, shares of the company had lost 11.19% in the past month. In that same time, the Transportation sector lost 5.84%, while the S&P 500 lost 5.17%.
Investors will be eagerly watching for the performance of Air Canada in its upcoming earnings disclosure.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Air Canada. 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Air Canada holds a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Air Canada currently has a Forward P/E ratio of 7.39. This signifies no noticeable deviation in comparison to the average Forward P/E of 7.39 for its industry.
The Transportation - Airline industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 222, placing it within the bottom 12% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Air Canada (ACDVF) Increases Yet Falls Behind Market: What Investors Need to Know
In the latest trading session, Air Canada (ACDVF - Free Report) closed at $13.93, marking a +0.87% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.18%. On the other hand, the Dow registered a gain of 0.87%, and the technology-centric Nasdaq increased by 1.6%.
Coming into today, shares of the company had lost 11.19% in the past month. In that same time, the Transportation sector lost 5.84%, while the S&P 500 lost 5.17%.
Investors will be eagerly watching for the performance of Air Canada in its upcoming earnings disclosure.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Air Canada. 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Air Canada holds a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Air Canada currently has a Forward P/E ratio of 7.39. This signifies no noticeable deviation in comparison to the average Forward P/E of 7.39 for its industry.
The Transportation - Airline industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 222, placing it within the bottom 12% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.