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

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AC shares. ATB Capital raised their price target on Air Canada from C$26.50 to C$28.00 in a research note on Monday, November 4th. TD Cowen raised their price target on Air Canada to C$25.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Stifel Canada raised Air Canada from a “hold” rating to a “strong-buy” rating in a research note on Sunday, November 3rd. National Bankshares raised their price objective on Air Canada from C$22.00 to C$27.00 in a research note on Monday, November 4th. Finally, Raymond James cut their price objective on Air Canada from C$28.00 to C$22.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Air Canada presently has a consensus rating of “Moderate Buy” and an average price target of C$25.25.

Air Canada Trading Up 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 simple moving average of C$17.89 and a 200 day simple moving average of C$17.61. The company has a market capitalization of C$8.81 billion, a P/E ratio of 5.40, a P/E/G 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.