Air Canada (TSE:AC) Sets New 1-Year High – Should You Buy?

Air Canada (TSE:AC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$26.84 and last traded at C$26.71, with a volume of 521052 shares changing hands. The stock had previously closed at C$25.75.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AC shares. BMO Capital Markets boosted their target price on shares of Air Canada from C$26.00 to C$30.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Canaccord Genuity Group increased their target price on shares of Air Canada from C$20.00 to C$26.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Stifel Nicolaus lifted their price target on shares of Air Canada from C$25.50 to C$30.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. TD reduced their price target on shares of Air Canada from C$23.00 to C$21.00 in a research report on Monday, April 20th. Finally, ATB Cormark Capital Markets decreased their price objective on shares of 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. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Air Canada has a consensus rating of “Moderate Buy” and an average price target of C$25.25.

Air Canada Stock Performance

The stock has a 50 day moving average price of C$23.82 and a two-hundred day moving average price of C$20.83. 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 company has a market capitalization of C$7.63 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 0.02 and a beta of 2.02.

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.