Air Canada (TSE:AC) Sets New 52-Week High at $49.83

Air Canada (TSE:AC) reached a new 52-week high on Friday . The stock traded as high as C$49.83 and last traded at C$49.14, with a volume of 218798 shares trading hands. The stock had previously closed at C$49.30.

Several equities research analysts recently commented on AC shares. JPMorgan Chase & Co. upgraded Air Canada from a “neutral” rating to an “overweight” rating and raised their target price for the company from C$50.00 to C$59.00 in a report on Wednesday, November 6th. TD Securities raised their target price on Air Canada from C$54.00 to C$57.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity raised their target price on Air Canada from C$45.00 to C$50.00 in a report on Tuesday, July 23rd. Royal Bank of Canada raised their target price on Air Canada from C$57.00 to C$59.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Cowen raised their target price on Air Canada from C$47.00 to C$50.00 in a report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Air Canada currently has an average rating of “Buy” and an average price target of C$52.42.

The firm has a market cap of $13.43 billion and a price-to-earnings ratio of 12.32. The company has a current ratio of 0.95, a quick ratio of 0.86 and a debt-to-equity ratio of 231.51. The stock has a 50-day moving average of C$45.68 and a 200-day moving average of C$42.42.

Air Canada (TSE:AC) last released its quarterly earnings data on Tuesday, October 29th. The company reported C$2.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$2.34 by C($0.07). The company had revenue of C$5.55 billion during the quarter, compared to analyst estimates of C$5.56 billion. As a group, research analysts expect that Air Canada will post 4.8700001 earnings per share for the current fiscal year.

In other news, Senior Officer Chris Isford sold 12,734 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of C$43.90, for a total value of C$559,035.33. Following the sale, the insider now owns 23,249 shares of the company’s stock, valued at approximately C$1,020,654.35. Also, Senior Officer Craig Landry sold 10,550 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$48.18, for a total value of C$508,309.55. Following the completion of the sale, the insider now directly owns 9,675 shares in the company, valued at approximately C$466,151.18. Insiders sold a total of 36,492 shares of company stock worth $1,675,074 in the last three months.

Air Canada Company Profile (TSE:AC)

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand name 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.

Further Reading: 52-Week High/Low Prices For Stock Selection

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