Air Canada (TSE:AC) Reaches New 12-Month High – Here’s What Happened

Air Canada (TSE:AC)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$26.77 and last traded at C$26.71, with a volume of 649491 shares traded. The stock had previously closed at C$26.24.

Analyst Ratings Changes

Several equities analysts have weighed in on AC shares. TD decreased their target price on shares of Air Canada from C$23.00 to C$21.00 in a report on Monday, April 20th. Royal Bank Of Canada lifted their price target on shares of Air Canada from C$22.00 to C$28.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Stifel Nicolaus raised their target price on Air Canada from C$25.50 to C$30.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Canadian Imperial Bank of Commerce reduced their target price on Air Canada from C$25.00 to C$22.00 in a research report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. decreased their price target on Air Canada from C$27.00 to C$23.00 in a research note on Monday, May 4th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Air Canada currently has a consensus rating of “Moderate Buy” and an average target price of C$25.25.

Air Canada Trading Up 0.2%

The company’s 50 day moving average price is C$23.57 and its 200 day moving average price is C$20.69. The firm has a market cap of C$7.63 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 0.02 and a beta of 2.02. The company has a debt-to-equity ratio of 452.24, a current ratio of 0.60 and a quick ratio of 1.05.

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

Air Canada Company Profile

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.