Air Canada (TSE:AC) Reaches New 1-Year High – Here’s What Happened

Air Canada (TSE:AC) shares hit a new 52-week high during trading on Wednesday . The company traded as high as C$23.85 and last traded at C$23.83, with a volume of 541102 shares trading hands. The stock had previously closed at C$23.40.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AC shares. CIBC raised their price target on Air Canada from C$25.00 to C$27.00 in a report on Monday, November 4th. Royal Bank of Canada lowered their target price on Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 23rd. Cormark lifted their target price on Air Canada from C$21.75 to C$26.75 in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their target price on Air Canada from C$32.00 to C$34.00 in a report on Monday, November 4th. Finally, Jefferies Financial Group lifted their target price on Air Canada from C$18.00 to C$22.00 in a report on Tuesday, November 5th. Two 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, Air Canada has a consensus rating of “Moderate Buy” and a consensus target price of C$25.25.

Air Canada Price Performance

The stock has a market capitalization of C$8.81 billion, a price-to-earnings ratio of 5.40, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. 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 50-day simple moving average of C$17.89 and a 200 day simple moving average of C$17.61.

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.