Air Canada (TSE:AC) Reaches New 52-Week High – Still a Buy?

Shares of Air Canada (TSE:AC) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$26.77 and last traded at C$26.71, with a volume of 649491 shares. The stock had previously closed at C$26.24.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Air Canada from C$27.00 to C$23.00 in a report on Monday, May 4th. Canaccord Genuity Group lifted 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. Royal Bank Of Canada boosted their price target on shares of Air Canada from C$22.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. TD lowered their price target on shares of Air Canada from C$23.00 to C$21.00 in a research note on Monday, April 20th. Finally, Canadian Imperial Bank of Commerce cut their price target on shares of Air Canada from C$25.00 to C$22.00 in a research report on Wednesday, April 8th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$25.25.

Air Canada Trading Up 4.1%

The stock has a market capitalization of C$7.83 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 0.02 and a beta of 2.00. The stock has a 50-day moving average price of C$23.37 and a two-hundred day moving average price of C$20.59. The company has a debt-to-equity ratio of 452.24, a quick ratio of 1.05 and a current ratio of 0.60.

Air Canada (TSE:AC) last released its quarterly earnings results on Thursday, April 30th. The company reported C($0.05) earnings per share (EPS) for the quarter. The company had revenue of C$5.79 billion during the quarter. Air Canada had a return on equity of 34.23% and a net margin of 3.46%. On average, research analysts forecast that Air Canada will post 2.5789474 EPS for the current fiscal 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.