Air Canada (TSE:AC) Hits New 12-Month High – Still a Buy?

Shares of Air Canada (TSE:AC) hit a new 52-week high on Monday . The stock traded as high as C$24.99 and last traded at C$24.95, with a volume of 1818981 shares trading hands. The stock had previously closed at C$24.20.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AC. Stifel Nicolaus upgraded Air Canada from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$20.00 to C$25.50 in a research report on Monday, November 4th. Cormark raised their price target on shares of Air Canada from C$21.75 to C$26.75 in a report on Monday, November 4th. CIBC upped their price objective on shares of Air Canada from C$25.00 to C$27.00 in a research note on Monday, November 4th. Scotiabank increased their price objective on shares of Air Canada from C$24.00 to C$26.50 in a research report on Monday, November 4th. Finally, TD Cowen boosted their target price on shares of Air Canada to C$25.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Air Canada currently has an average rating of “Moderate Buy” and a consensus target price of C$25.75.

Air Canada Stock Down 0.2 %

The stock has a market cap of C$8.83 billion, a price-to-earnings ratio of 5.50, a PEG ratio of 0.02 and a beta of 2.39. The stock has a 50 day simple moving average of C$19.66 and a 200 day simple moving average of C$17.90. The company has a quick ratio of 1.06, a current ratio of 0.85 and a debt-to-equity ratio of 1,070.99.

About Air Canada

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.