Air Canada (TSE:AC) Reaches New 1-Year High After Analyst Upgrade

Shares of Air Canada (TSE:AC) hit a new 52-week high during mid-day trading on Tuesday after BMO Capital Markets raised their price target on the stock from C$30.00 to C$37.00. BMO Capital Markets currently has an outperform rating on the stock. Air Canada traded as high as C$26.84 and last traded at C$26.71, with a volume of 521052 shares. The stock had previously closed at C$25.75.

A number of other equities analysts have also issued reports on the company. ATB Cormark Capital Markets reduced their target price on Air Canada from C$33.00 to C$32.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. JPMorgan Chase & Co. cut their price objective on Air Canada from C$27.00 to C$23.00 in a report on Monday, May 4th. 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. National Bank Financial raised Air Canada from a “hold” rating to an “outperform” rating and lifted their target price for the stock from C$22.00 to C$29.00 in a report on Tuesday, July 7th. Finally, Royal Bank Of Canada upped their target price on Air Canada from C$22.00 to C$28.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$26.88.

Air Canada Price Performance

The firm has a 50-day simple moving average of C$24.12 and a two-hundred day simple moving average of C$20.97. The company has a market capitalization of C$8.79 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 0.02 and a beta of 2.02. The company has a current ratio of 0.60, a quick ratio of 1.05 and a debt-to-equity ratio of 452.24.

Air Canada (TSE:AC) last issued its quarterly earnings data on Tuesday, August 11th. The company reported C$0.40 earnings per share (EPS) for the quarter. The business had revenue of C$6.27 billion during the quarter. Air Canada had a return on equity of 34.23% and a net margin of 3.46%. As a group, analysts predict that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

About Air Canada

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.