Air Canada (TSE:AC) Reaches New 52-Week High – Should You Buy?

Shares of Air Canada (TSE:AC) hit a new 52-week high on Tuesday . The company traded as high as C$26.18 and last traded at C$26.00, with a volume of 2115063 shares trading hands. The stock had previously closed at C$25.54.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AC shares. ATB Capital upped their target price on Air Canada from C$26.50 to C$28.00 in a report on Monday, November 4th. National Bankshares upped their price target on Air Canada from C$22.00 to C$27.00 in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on Air Canada from C$32.00 to C$34.00 in a research note on Monday, November 4th. Stifel Nicolaus upgraded shares of Air Canada from a “hold” rating to a “buy” rating and raised their target price for the company from C$20.00 to C$25.50 in a research note on Monday, November 4th. Finally, Citigroup lifted their target price on shares of Air Canada from C$21.00 to C$28.50 in a report on Monday, November 18th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$25.82.

Air Canada Stock Performance

The stock has a market cap of C$9.11 billion, a price-to-earnings ratio of 5.70, a PEG ratio of 0.02 and a beta of 2.39. The firm has a fifty day simple moving average of C$20.93 and a 200 day simple moving average of C$18.22. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99.

Air Canada Company Profile

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names in the Canadian market, the Canada-U.S. transborder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.