Air Canada (TSE:AC) Hits New 52-Week High – Time to Buy?

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AC shares. BMO Capital Markets lowered their price target on shares of Air Canada from C$27.00 to C$26.00 in a report on Tuesday, March 31st. JPMorgan Chase & Co. reduced their price objective on Air Canada from C$27.00 to C$23.00 in a report on Monday, May 4th. Canaccord Genuity Group decreased their target price on Air Canada from C$21.00 to C$20.00 and set a “hold” rating for the company in a research report on Monday, May 4th. ATB Cormark Capital Markets lowered their target price on Air Canada from C$33.00 to C$32.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Finally, National Bank Financial dropped their price target on Air Canada from C$25.00 to C$22.00 in a research report on Thursday, April 2nd. 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, Air Canada has an average rating of “Moderate Buy” and a consensus target price of C$23.39.

Air Canada Price Performance

The firm’s 50 day moving average price is C$20.60 and its two-hundred day moving average price is C$19.64. 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 stock has a market cap of C$7.04 billion, a PE ratio of 10.13, a P/E/G 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 business had revenue of C$5.79 billion for the quarter. Air Canada had a net margin of 3.46% and a return on equity of 34.23%. On average, research analysts expect that Air Canada will post 2.5789474 earnings per share for the current 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.