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

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

Wall Street Analyst Weigh In

AC has been the topic of several research analyst reports. National Bank Financial decreased their price objective on shares of Air Canada from C$25.00 to C$22.00 in a research report on Thursday, April 2nd. JPMorgan Chase & Co. dropped their target price on shares of Air Canada from C$27.00 to C$23.00 in a research report on Monday, May 4th. Stifel Nicolaus cut their price target on shares of Air Canada from C$28.00 to C$25.50 and set a “buy” rating for the company in a research note on Tuesday, April 28th. TD decreased their price target on shares of Air Canada from C$23.00 to C$21.00 in a report on Monday, April 20th. Finally, Canaccord Genuity Group lowered their price objective on shares of Air Canada from C$21.00 to C$20.00 and set a “hold” rating on the stock in a research report on Monday, May 4th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$23.39.

Air Canada Price Performance

The stock has a market capitalization of C$6.95 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 0.02 and a beta of 2.08. The company has a debt-to-equity ratio of 452.24, a quick ratio of 1.05 and a current ratio of 0.60. The firm has a 50-day moving average price of C$20.38 and a 200 day moving average price of C$19.56.

Air Canada (TSE:AC) last released its earnings results on Thursday, April 30th. The company reported C($0.05) earnings per share for the quarter. The firm 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, analysts expect that Air Canada will post 2.5789474 EPS for the current year.

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.