Air Canada (TSE:AC) Sets New 1-Year High – Here’s What Happened

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Air Canada from C$32.00 to C$34.00 in a research report on Monday, November 4th. Cormark boosted their price target on Air Canada from C$21.75 to C$26.75 in a research report on Monday, November 4th. Citigroup raised their price objective on Air Canada from C$21.00 to C$28.50 in a research report on Monday, November 18th. Stifel Nicolaus upgraded Air Canada from a “hold” rating to a “buy” rating and increased their price target for the company from C$20.00 to C$25.50 in a research note on Monday, November 4th. Finally, Scotiabank lifted their price objective on shares of Air Canada from C$24.00 to C$26.50 in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$25.75.

Air Canada Stock Performance

The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99. The firm has a market capitalization of C$8.83 billion, a price-to-earnings ratio of 5.50, a PEG ratio of 0.02 and a beta of 2.39. The stock’s 50-day moving average is C$19.66 and its 200-day moving average is C$17.90.

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.