Air Canada (TSE:AC) Hits New 1-Year High – Here’s Why

Air Canada (TSE:AC) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$23.83 and last traded at C$23.80, with a volume of 1260561 shares changing hands. The stock had previously closed at C$23.13.

Analysts Set New Price Targets

AC has been the subject of several research analyst reports. Canadian Imperial Bank of Commerce reduced their price target on shares of Air Canada from C$25.00 to C$22.00 in a research report on Wednesday, April 8th. Jefferies Financial Group lifted their price objective on Air Canada from C$17.00 to C$19.00 in a report on Tuesday, March 31st. Stifel Nicolaus cut their price objective on Air Canada from C$28.00 to C$25.50 and set a “buy” rating for the company in a research note on Tuesday, April 28th. TD reduced their target price on Air Canada from C$23.00 to C$21.00 in a report on Monday, April 20th. Finally, Scotiabank downgraded Air Canada from an “outperform” rating to a “hold” rating and decreased their target price for the company from C$27.00 to C$21.00 in a research report on Tuesday, March 10th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$23.39.

Air Canada Price Performance

The stock’s fifty day moving average price is C$19.95 and its 200-day moving average price is C$19.42. The firm has a market cap of C$6.87 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 0.02 and a beta of 2.08. The company has a debt-to-equity ratio of 452.24, a current ratio of 0.60 and a quick ratio of 1.06.

Air Canada (TSE:AC) last posted its quarterly earnings results on Thursday, April 30th. The company reported C($0.05) earnings per share for the quarter. Air Canada had a return on equity of 34.23% and a net margin of 3.46%.The business had revenue of C$5.79 billion during the quarter. As a group, equities analysts expect that Air Canada will post 2.5789474 EPS for the current fiscal year.

About Air Canada

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.