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

Air Canada (TSE:AC)’s stock price hit a new 52-week high on Monday . The stock traded as high as C$24.99 and last traded at C$24.95, with a volume of 1818981 shares changing hands. The stock had previously closed at C$24.20.

Analyst Ratings Changes

Several analysts recently weighed in on the company. ATB Capital increased their target price on Air Canada from C$26.50 to C$28.00 in a research note on Monday, November 4th. TD Cowen increased their target price on Air Canada to C$25.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Jefferies Financial Group upped their price target on Air Canada from C$18.00 to C$22.00 in a report on Tuesday, November 5th. Scotiabank upped their price target on Air Canada from C$24.00 to C$26.50 in a report on Monday, November 4th. Finally, CIBC upped their price target on Air Canada from C$25.00 to C$27.00 in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$25.75.

Air Canada Stock Performance

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. The stock has a fifty day moving average price of C$19.09 and a 200-day moving average price of C$17.81. The firm has a market capitalization of C$8.85 billion, a price-to-earnings ratio of 5.57, a PEG ratio of 0.02 and a beta of 2.39.

About Air Canada

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.