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

Air Canada (TSE:AC) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$25.16 and last traded at C$25.15, with a volume of 1026245 shares trading hands. The stock had previously closed at C$24.96.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. National Bankshares upped their price objective on shares of Air Canada from C$22.00 to C$27.00 in a report on Monday, November 4th. Stifel Nicolaus upgraded Air Canada from a “hold” rating to a “buy” rating and raised their target price for the stock from C$20.00 to C$25.50 in a research note on Monday, November 4th. Cormark increased their price target on shares of Air Canada from C$21.75 to C$26.75 in a report on Monday, November 4th. CIBC raised their price target on shares of Air Canada from C$25.00 to C$27.00 in a report on Monday, November 4th. Finally, ATB Capital upped their price target on shares of Air Canada from C$26.50 to C$28.00 in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Air Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of C$25.75.

Air Canada Trading Up 0.2 %

The company has a debt-to-equity ratio of 1,070.99, a current ratio of 0.85 and a quick ratio of 1.06. The firm’s 50 day moving average is C$19.84 and its 200 day moving average is C$17.94. The company has a market capitalization of C$8.97 billion, a PE ratio of 5.55, a P/E/G ratio of 0.02 and a beta of 2.39.

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.