Air Canada (TSE:AC) Reaches New 52-Week High After Analyst Upgrade

Air Canada (TSE:AC) hit a new 52-week high during 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 changing hands. The stock had previously closed at C$25.75.

A number of other brokerages have also recently issued reports on AC. JPMorgan Chase & Co. decreased their target price on Air Canada from C$27.00 to C$23.00 in a research report on Monday, May 4th. Canaccord Genuity Group lifted their price target on shares of Air Canada from C$20.00 to C$26.00 and gave the company a “hold” rating in a research report on Monday, July 6th. TD reduced their price objective on shares of Air Canada from C$23.00 to C$21.00 in a research note on Monday, April 20th. Scotiabank raised shares of Air Canada from a “hold” rating to a “sector outperform” rating and upped their price objective for the stock from C$26.00 to C$33.50 in a report on Tuesday. Finally, Royal Bank Of Canada raised their target price on shares of Air Canada from C$22.00 to C$28.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Air Canada has an average rating of “Moderate Buy” and an average price target of C$26.88.

Air Canada Trading Up 12.2%

The company has a market capitalization of C$8.79 billion, a P/E ratio of 12.65, a P/E/G ratio of 0.02 and a beta of 2.02. The company has a 50-day simple moving average of C$24.12 and a 200 day simple moving average of C$20.97. The company has a debt-to-equity ratio of 452.24, a quick ratio of 1.05 and a current ratio of 0.60.

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