Air Canada (TSE:AC) Sets New 12-Month High on Analyst Upgrade

Air Canada (TSE:AC) shares hit a new 52-week high on Wednesday after National Bank Financial upgraded the stock from a sector perform rating to an outperform rating. National Bank Financial now has a C$29.00 price target on the stock, up from their previous price target of C$22.00. Air Canada traded as high as C$25.50 and last traded at C$25.37, with a volume of 2406839 shares changing hands. The stock had previously closed at C$25.20.

AC has been the subject of a number of other reports. Scotiabank cut Air Canada from an “outperform” rating to a “hold” rating and cut their target price for the stock from C$27.00 to C$21.00 in a research note on Tuesday, March 10th. ATB Cormark Capital Markets dropped their price target 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. Royal Bank Of Canada boosted 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 report on Monday, June 29th. BMO Capital Markets reduced their price objective on Air Canada from C$27.00 to C$26.00 in a research report on Tuesday, March 31st. Finally, Canaccord Genuity Group raised their price objective on shares of Air Canada from C$20.00 to C$26.00 and gave the company a “hold” rating in a research note on Monday. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$24.73.

Air Canada Price Performance

The company has a debt-to-equity ratio of 452.24, a current ratio of 0.60 and a quick ratio of 1.05. The company has a market capitalization of C$7.28 billion, a PE ratio of 10.48, a PEG ratio of 0.02 and a beta of 2.00. The firm has a 50-day moving average of C$21.57 and a 200 day moving average of C$19.99.

Air Canada (TSE:AC) last issued its earnings results on Thursday, April 30th. The company reported C($0.05) earnings per share for the quarter. The business had revenue of C$5.79 billion during the quarter. Air Canada had a return on equity of 34.23% and a net margin of 3.46%. As a group, research analysts anticipate 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.