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

Air Canada (TSE:AC) shares reached 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 traded. The stock had previously closed at C$24.96.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AC. Stifel Canada upgraded Air Canada from a “hold” rating to a “strong-buy” rating in a report on Sunday, November 3rd. Citigroup upped their price objective on Air Canada from C$21.00 to C$28.50 in a research note on Monday, November 18th. Jefferies Financial Group upped their price objective on Air Canada from C$18.00 to C$22.00 in a research note on Tuesday, November 5th. Cormark upped their price objective on Air Canada from C$21.75 to C$26.75 in a research note on Monday, November 4th. Finally, BMO Capital Markets upped their price objective on Air Canada from C$28.00 to C$29.00 in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Air Canada has an average rating of “Moderate Buy” and a consensus price target of C$25.75.

Air Canada Price Performance

The firm has a market cap of C$8.97 billion, a price-to-earnings ratio of 5.55, a P/E/G ratio of 0.02 and a beta of 2.39. 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 business has a 50 day simple moving average of C$19.84 and a 200-day simple moving average of C$17.94.

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.