Air Canada (TSE:AC) Sets New 12-Month High at $49.83

Air Canada (TSE:AC) shares hit a new 52-week high during trading on Friday . The company traded as high as C$49.83 and last traded at C$49.14, with a volume of 218798 shares trading hands. The stock had previously closed at C$49.30.

AC has been the topic of a number of recent research reports. TD Securities increased their price objective on Air Canada from C$54.00 to C$57.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity increased their price objective on Air Canada from C$45.00 to C$50.00 in a research report on Tuesday, July 23rd. AltaCorp Capital increased their price objective on Air Canada from C$51.00 to C$56.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada increased their price objective on Air Canada from C$57.00 to C$59.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Raymond James reiterated a “market perform” rating and issued a C$45.00 price objective on shares of Air Canada in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of C$52.42.

The company has a debt-to-equity ratio of 231.51, a quick ratio of 0.86 and a current ratio of 0.95. The firm has a market capitalization of $13.43 billion and a P/E ratio of 12.32. The company has a 50-day moving average price of C$45.68 and a 200-day moving average price of C$42.42.

Air Canada (TSE:AC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported C$2.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$2.34 by C($0.07). The firm had revenue of C$5.55 billion during the quarter, compared to analyst estimates of C$5.56 billion. Equities analysts predict that Air Canada will post 4.8700001 EPS for the current year.

In related news, Senior Officer Craig Landry sold 10,550 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$48.18, for a total transaction of C$508,309.55. Following the sale, the insider now owns 9,675 shares of the company’s stock, valued at approximately C$466,151.18. Also, Senior Officer Amos Kazzaz sold 11,697 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of C$46.31, for a total value of C$541,683.39. Following the sale, the insider now directly owns 4,523 shares in the company, valued at approximately C$209,458.32. Insiders sold a total of 36,492 shares of company stock worth $1,675,074 over the last 90 days.

Air Canada Company Profile (TSE:AC)

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand name 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.

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