Air Canada (TSE:AC) Sets New 1-Year High After Analyst Upgrade

Shares of Air Canada (TSE:AC) reached a new 52-week high during trading on Monday after Jefferies Financial Group raised their price target on the stock from C$18.00 to C$22.00. The stock traded as high as C$21.97 and last traded at C$21.72, with a volume of 1010124 shares changing hands. The stock had previously closed at C$21.51.

A number of other research firms have also recently weighed in on AC. Stifel Nicolaus raised Air Canada from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$20.00 to C$25.50 in a research report on Monday. Canaccord Genuity Group upped their price objective on shares of Air Canada from C$25.00 to C$29.00 in a research report on Monday. JPMorgan Chase & Co. lifted their target price on shares of Air Canada from C$32.00 to C$34.00 in a report on Monday. BMO Capital Markets increased their price target on shares of Air Canada from C$28.00 to C$29.00 in a report on Monday. Finally, Stifel Canada raised Air Canada from a “hold” rating to a “strong-buy” rating in a report on Sunday. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Air Canada presently has a consensus rating of “Moderate Buy” and an average price target of C$25.27.

Insiders Place Their Bets

In other news, Senior Officer Christophe Hennebelle purchased 1,900 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of C$15.70 per share, for a total transaction of C$29,830.00. 0.14% of the stock is owned by company insiders.

Air Canada Stock Up 2.0 %

The company has a market cap of C$7.95 billion, a PE ratio of 4.95, a P/E/G ratio of 0.02 and a beta of 2.39. The firm has a 50-day simple moving average of C$16.97 and a two-hundred day simple moving average of C$17.42. The company has a debt-to-equity ratio of 1,070.99, a current ratio of 0.85 and a quick ratio of 1.06.

Air Canada (TSE:AC) last posted its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, topping analysts’ consensus estimates of C$0.85 by C$0.13. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. The firm had revenue of C$5.52 billion during the quarter, compared to analysts’ expectations of C$5.55 billion. Research analysts anticipate that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

Air Canada Company Profile

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.