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

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on AC shares. ATB Capital boosted their target price on shares of Air Canada from C$26.50 to C$28.00 in a research report on Monday, November 4th. Scotiabank boosted their price objective on shares of Air Canada from C$24.00 to C$26.50 in a report on Monday, November 4th. BMO Capital Markets raised their target price on Air Canada from C$28.00 to C$29.00 in a research note on Monday, November 4th. Cormark boosted their price target on Air Canada from C$21.75 to C$26.75 in a research note on Monday, November 4th. Finally, Citigroup raised their price objective on Air Canada from C$21.00 to C$28.50 in a research note on Monday, November 18th. Two equities 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$25.82.

Air Canada Trading Down 1.6 %

The company has a debt-to-equity ratio of 1,070.99, a quick ratio of 1.06 and a current ratio of 0.85. The company has a 50 day moving average of C$21.10 and a two-hundred day moving average of C$18.27. The stock has a market cap of C$8.98 billion, a PE ratio of 5.59, a price-to-earnings-growth 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.