Chorus Aviation (TSE:CHR) Stock Price Passes Above 50-Day Moving Average of $2.65

Chorus Aviation Inc. (TSE:CHR)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$2.65 and traded as high as C$2.78. Chorus Aviation shares last traded at C$2.72, with a volume of 189,976 shares traded.

Analysts Set New Price Targets

A number of brokerages recently commented on CHR. Royal Bank of Canada reduced their price objective on Chorus Aviation from C$3.50 to C$3.25 and set an “outperform” rating on the stock in a research report on Friday, August 16th. Scotiabank lifted their price objective on Chorus Aviation from C$3.00 to C$3.25 in a research report on Wednesday, July 31st. CIBC reduced their price objective on Chorus Aviation from C$3.50 to C$3.25 in a research report on Thursday, August 15th. National Bankshares lifted their price objective on Chorus Aviation from C$3.65 to C$3.85 in a research report on Thursday, August 15th. Finally, Cormark upgraded Chorus Aviation from a “market perform” rating to a “buy” rating and lifted their price objective for the stock from C$2.50 to C$4.05 in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$3.21.

Chorus Aviation Price Performance

The company has a quick ratio of 0.53, a current ratio of 1.45 and a debt-to-equity ratio of 60.07. The company has a market cap of C$521.73 million, a PE ratio of 11.87, a P/E/G ratio of 0.65 and a beta of 2.13. The stock has a 50-day simple moving average of C$2.66 and a 200 day simple moving average of C$2.35.

Chorus Aviation (TSE:CHR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported C$0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.06 by C$0.02. The firm had revenue of C$351.22 million for the quarter, compared to the consensus estimate of C$404.00 million. Chorus Aviation had a positive return on equity of 7.10% and a negative net margin of 6.95%. Equities analysts expect that Chorus Aviation Inc. will post 0.2998897 EPS for the current year.

Insider Activity at Chorus Aviation

In other news, Director David Levenson acquired 144,600 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of C$2.61 per share, for a total transaction of C$377,406.00. Company insiders own 13.81% of the company’s stock.

About Chorus Aviation

Chorus Aviation Inc, through its subsidiaries, provides aviation solutions. It operates through Regional Aviation Services and Regional Aircraft Leasing segments. The Regional Aviation Services segment provides contract flying services, charter services, and specialized contract flying, such as medical, logistical, and humanitarian flights; aircraft leasing; and maintenance, repair and overhaul services, and part sales and technical services, as well as pilot training services.