Air Canada (TSE:AC) Hits New 1-Year High – Here’s Why

Shares of Air Canada (TSE:AC – Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as C$23.83 and last traded at C$23.80, with a volume of 1260561 shares changing hands. The stock had previously closed at C$23.13.

Analyst Ratings Changes

AC has been the topic of several recent research reports. BMO Capital Markets lowered their price objective on Air Canada from C$27.00 to C$26.00 in a research report on Tuesday, March 31st. Royal Bank Of Canada cut their target price on shares of Air Canada from C$25.00 to C$22.00 in a report on Monday, April 13th. ATB Cormark Capital Markets lowered their price target on shares of Air Canada from C$33.00 to C$32.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. National Bank Financial dropped their price target on shares of Air Canada from C$25.00 to C$22.00 in a research report on Thursday, April 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Air Canada from C$27.00 to C$23.00 in a report on Monday, May 4th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Air Canada has a consensus rating of “Moderate Buy” and a consensus target price of C$23.39.

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Check Out Our Latest Stock Analysis on Air Canada

Air Canada Stock Up 3.4%

The company has a quick ratio of 1.06, a current ratio of 0.60 and a debt-to-equity ratio of 452.24. The business has a 50-day simple moving average of C$19.95 and a 200-day simple moving average of C$19.42. The company has a market cap of C$6.87 billion, a PE ratio of 9.88, a P/E/G ratio of 0.02 and a beta of 2.08.

Air Canada (TSE:AC – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported C($0.05) EPS for the quarter. The business 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%. Equities research analysts anticipate that Air Canada will post 2.5789474 EPS for the current year.

Air Canada Company Profile

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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.

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