Air Canada (TSE:AC) Hits New 12-Month High – What’s Next?

Shares of Air Canada (TSE:AC) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$23.85 and last traded at C$23.83, with a volume of 541102 shares. The stock had previously closed at C$23.40.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Air Canada from C$32.00 to C$34.00 in a report on Monday, November 4th. ATB Capital increased their price target on shares of Air Canada from C$26.50 to C$28.00 in a research note on Monday, November 4th. National Bankshares increased their price target on shares of Air Canada from C$22.00 to C$27.00 in a research note on Monday, November 4th. BMO Capital Markets increased their price target on shares of Air Canada from C$28.00 to C$29.00 in a research note on Monday, November 4th. Finally, Canaccord Genuity Group raised their target price on shares of Air Canada from C$25.00 to C$29.00 in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Air Canada currently has a consensus rating of “Moderate Buy” and an average target price of C$25.25.

Air Canada Stock Up 2.4 %

The stock has a market capitalization of C$8.59 billion, a price-to-earnings ratio of 5.29, a PEG ratio of 0.02 and a beta of 2.39. The firm’s fifty day moving average is C$17.72 and its 200-day moving average is C$17.57. 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 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.