Chorus Aviation (TSE:CHR) Stock Price Passes Above 50-Day Moving Average of $2.66

Shares of Chorus Aviation Inc. (TSE:CHR) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$2.66 and traded as high as C$2.77. Chorus Aviation shares last traded at C$2.74, with a volume of 351,215 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CHR. TD Securities lowered their price objective on shares of Chorus Aviation from C$3.50 to C$3.25 in a research note on Monday, August 19th. 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. National Bankshares increased their target price on Chorus Aviation from C$3.65 to C$3.85 in a report on Thursday, August 15th. Scotiabank boosted their price target on Chorus Aviation from C$3.00 to C$3.25 in a report on Wednesday, July 31st. Finally, Royal Bank of Canada decreased 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 note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Chorus Aviation currently has a consensus rating of “Moderate Buy” and a consensus target price of C$3.21.

Chorus Aviation Price Performance

The company has a 50 day moving average of C$2.66 and a 200 day moving average of C$2.38. The stock has a market capitalization of C$538.93 million, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 0.65 and a beta of 2.13. The company has a quick ratio of 0.53, a current ratio of 1.45 and a debt-to-equity ratio of 60.07.

Chorus Aviation (TSE:CHR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported C$0.08 EPS for the quarter, beating analysts’ consensus estimates of C$0.06 by C$0.02. Chorus Aviation had a negative net margin of 6.95% and a positive return on equity of 7.10%. The company had revenue of C$351.22 million during the quarter, compared to the consensus estimate of C$404.00 million. As a group, equities research analysts forecast that Chorus Aviation Inc. will post 0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Levenson acquired 46,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of C$2.64 per share, with a total value of C$121,440.00. 13.81% of the stock is currently owned by insiders.

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.