Air Canada (TSE:AC) Reaches New 12-Month High – Here’s What Happened

Air Canada (TSE:AC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$24.99 and last traded at C$24.95, with a volume of 1818981 shares traded. The stock had previously closed at C$24.20.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AC shares. Scotiabank lifted their target price on Air Canada from C$24.00 to C$26.50 in a report on Monday, November 4th. BMO Capital Markets lifted their price target on Air Canada from C$28.00 to C$29.00 in a report on Monday, November 4th. CIBC lifted their price target on Air Canada from C$25.00 to C$27.00 in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on Air Canada from C$32.00 to C$34.00 in a report on Monday, November 4th. Finally, Canaccord Genuity Group lifted their price target on Air Canada from C$25.00 to C$29.00 in a report on Monday, November 4th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Air Canada currently has an average rating of “Moderate Buy” and a consensus price target of C$25.75.

Air Canada Stock Up 2.0 %

The business has a 50-day simple moving average of C$19.09 and a two-hundred day simple moving average of C$17.81. The company has a market cap of C$8.85 billion, a price-to-earnings ratio of 5.57, a PEG ratio of 0.02 and a beta of 2.39. The company has a quick ratio of 1.06, a current ratio of 0.85 and a debt-to-equity ratio of 1,070.99.

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.