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

Air Canada (TSE:AC) shares hit a new 52-week high during 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 trading hands. The stock had previously closed at C$25.75.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. BMO Capital Markets increased 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. ATB Cormark Capital Markets lowered their price target on 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. Stifel Nicolaus upped their price target on 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 objective on Air Canada from C$23.00 to C$21.00 in a research report on Monday, April 20th. Finally, Royal Bank Of Canada lifted their price objective on Air Canada from C$22.00 to C$28.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Air Canada has an average rating of “Moderate Buy” and an average price target of C$25.25.

Air Canada Price Performance

The stock has a market cap 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. The company has a quick ratio of 1.05, a current ratio of 0.60 and a debt-to-equity ratio of 452.24. The company’s 50-day moving average is C$23.82 and its 200-day moving average is C$20.83.

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.