Air Canada (TSE:AC) Reaches New 52-Week High – Still a Buy?

Air Canada (TSE:AC) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as C$24.35 and last traded at C$24.20, with a volume of 2179434 shares. The stock had previously closed at C$23.95.

Analyst Ratings Changes

AC has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on shares of Air Canada from C$27.00 to C$23.00 in a research note on Monday, May 4th. Royal Bank Of Canada cut their price target on Air Canada from C$25.00 to C$22.00 in a report on Monday, April 13th. Jefferies Financial Group lifted their price target on Air Canada from C$17.00 to C$19.00 in a research report on Tuesday, March 31st. Stifel Nicolaus decreased their price objective on Air Canada from C$28.00 to C$25.50 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Finally, Canaccord Genuity Group dropped their price objective on Air Canada from C$21.00 to C$20.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Air Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.39.

Air Canada Stock Up 1.0%

The stock’s fifty day moving average is C$20.38 and its two-hundred day moving average is C$19.56. The company has a current ratio of 0.60, a quick ratio of 1.05 and a debt-to-equity ratio of 452.24. The firm has a market cap of C$6.95 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 0.02 and a beta of 2.08.

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