Air Canada (TSE:AC) Hits New 1-Year High – Still a Buy?

Shares of Air Canada (TSE:AC) hit a new 52-week high during trading on Thursday . The stock traded as high as C$24.95 and last traded at C$24.87, with a volume of 299184 shares traded. The stock had previously closed at C$24.74.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada increased their price target on shares of Air Canada from C$22.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Canadian Imperial Bank of Commerce dropped their price objective on Air Canada from C$25.00 to C$22.00 in a report on Wednesday, April 8th. TD cut their target price on Air Canada from C$23.00 to C$21.00 in a research report on Monday, April 20th. Stifel Nicolaus lowered their price target on Air Canada from C$28.00 to C$25.50 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Finally, Canaccord Genuity Group dropped their price target on Air Canada from C$21.00 to C$20.00 and set a “hold” rating for the company in a research note on Monday, May 4th. Four research 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, the stock has an average rating of “Hold” and a consensus target price of C$23.73.

Air Canada Price Performance

The company has a debt-to-equity ratio of 452.24, a quick ratio of 1.05 and a current ratio of 0.60. The business’s fifty day simple moving average is C$21.30 and its 200 day simple moving average is C$19.89. The stock has a market cap of C$7.06 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 0.02 and a beta of 2.00.

Air Canada (TSE:AC) last announced its earnings results on Thursday, April 30th. The company reported C($0.05) earnings per share 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$5.79 billion for the quarter. Research analysts predict that Air Canada will post 2.5789474 EPS for the current fiscal 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.