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Air Canada (ACDVF) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Air Canada (ACDVF - Free Report) closed at $15.66, marking a +0.8% move from the previous day. This change outpaced the S&P 500's 0.67% gain on the day. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 1.14%.
Coming into today, shares of the company had lost 11.32% in the past month. In that same time, the Transportation sector lost 6.17%, while the S&P 500 lost 0.73%.
Wall Street will be looking for positivity from Air Canada as it approaches its next earnings report date.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection has moved 52.03% higher. Air Canada currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Air Canada is currently trading at a Forward P/E ratio of 8.3. For comparison, its industry has an average Forward P/E of 8.32, which means Air Canada is trading at a discount to the group.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% 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.
To follow ACDVF in the coming trading sessions, be sure to utilize Zacks.com.
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Air Canada (ACDVF) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Air Canada (ACDVF - Free Report) closed at $15.66, marking a +0.8% move from the previous day. This change outpaced the S&P 500's 0.67% gain on the day. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 1.14%.
Coming into today, shares of the company had lost 11.32% in the past month. In that same time, the Transportation sector lost 6.17%, while the S&P 500 lost 0.73%.
Wall Street will be looking for positivity from Air Canada as it approaches its next earnings report date.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection has moved 52.03% higher. Air Canada currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Air Canada is currently trading at a Forward P/E ratio of 8.3. For comparison, its industry has an average Forward P/E of 8.32, which means Air Canada is trading at a discount to the group.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% 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.
To follow ACDVF in the coming trading sessions, be sure to utilize Zacks.com.