Air Canada (TSE:AC) Hits New 52-Week High on Analyst Upgrade

Air Canada (TSE:AC)’s share price hit a new 52-week high on Monday after Jefferies Financial Group raised their price target on the stock from C$18.00 to C$22.00. The company traded as high as C$21.97 and last traded at C$21.72, with a volume of 1010124 shares traded. The stock had previously closed at C$21.51.

A number of other analysts have also recently commented on AC. BMO Capital Markets boosted their price objective on Air Canada from C$28.00 to C$29.00 in a research report on Monday. Cormark increased their price objective on shares of Air Canada from C$21.75 to C$26.75 in a report on Monday. Stifel Canada raised shares of Air Canada from a “hold” rating to a “strong-buy” rating in a research note on Sunday. National Bankshares raised their price target on shares of Air Canada from C$22.00 to C$27.00 in a research note on Monday. Finally, Royal Bank of Canada lowered their price objective on Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$25.27.

Insider Activity

In other news, Senior Officer Christophe Hennebelle purchased 1,900 shares of Air Canada stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of C$15.70 per share, with a total value of C$29,830.00. Corporate insiders own 0.14% of the company’s stock.

Air Canada Stock Performance

The stock has a market capitalization of C$7.95 billion, a price-to-earnings ratio of 4.95, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. 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’s fifty day moving average price is C$16.97 and its 200 day moving average price is C$17.42.

Air Canada (TSE:AC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.85 by C$0.13. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. The business had revenue of C$5.52 billion during the quarter, compared to analysts’ expectations of C$5.55 billion. Analysts forecast that Air Canada will post 2.5789474 EPS for the current fiscal year.

Air Canada Company Profile

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.