Air Canada (TSE:AC) Hits New 12-Month High – What’s Next?

Air Canada (TSE:AC) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as C$25.56 and last traded at C$25.54, with a volume of 2756513 shares traded. The stock had previously closed at C$24.25.

Analysts Set New Price Targets

AC has been the subject of a number of analyst reports. ATB Cormark Capital Markets dropped their price target on shares of Air Canada from C$33.00 to C$32.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Stifel Nicolaus raised their price objective on Air Canada from C$25.50 to C$30.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. TD lowered their price objective on Air Canada from C$23.00 to C$21.00 in a research note on Monday, April 20th. Canaccord Genuity Group lifted their price objective on Air Canada from C$20.00 to C$26.00 and gave the company a “hold” rating in a report on Monday, July 6th. Finally, Canadian Imperial Bank of Commerce cut their target price on Air Canada from C$25.00 to C$22.00 in a research report on Wednesday, April 8th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$25.25.

Air Canada Trading Up 3.9%

The company has a debt-to-equity ratio of 452.24, a quick ratio of 1.05 and a current ratio of 0.60. The stock has a market capitalization of C$7.81 billion, a P/E ratio of 10.89, a price-to-earnings-growth ratio of 0.02 and a beta of 2.00. The firm’s fifty day simple moving average is C$23.06 and its 200 day simple moving average is C$20.46.

Air Canada (TSE:AC) last issued its earnings results on Thursday, April 30th. The company reported C($0.05) EPS for the quarter. Air Canada had a net margin of 3.46% and a return on equity of 34.23%. The firm had revenue of C$5.79 billion during the quarter. As a group, equities research analysts forecast that Air Canada will post 2.5789474 EPS for the current fiscal year.

Air Canada Company Profile

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.