CIBC Forecasts Strong Price Appreciation for Chorus Aviation (TSE:CHR) Stock

Chorus Aviation (TSE:CHR) had its price target lifted by CIBC from C$3.25 to C$3.80 in a research note published on Friday morning,BayStreet.CA reports.

Several other brokerages have also commented on CHR. Cormark raised Chorus Aviation from a “market perform” rating to a “buy” rating and raised their price objective for the company from C$2.50 to C$4.05 in a research report on Wednesday, July 31st. 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 report on Friday, August 16th. Scotiabank increased their price target on Chorus Aviation from C$3.00 to C$3.25 in a research report on Wednesday, July 31st. TD Securities cut Chorus Aviation from a “buy” rating to a “hold” rating and set a C$3.50 price target for the company. in a research note on Friday. Finally, National Bankshares raised their target price on Chorus Aviation from C$3.65 to C$3.85 in a report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$3.37.

Chorus Aviation Trading Up 3.3 %

CHR opened at C$3.16 on Friday. The company’s 50 day moving average is C$2.86 and its 200-day moving average is C$2.56. Chorus Aviation has a 1-year low of C$1.99 and a 1-year high of C$3.29. The company has a current ratio of 1.45, a quick ratio of 0.53 and a debt-to-equity ratio of 60.07. The company has a market cap of C$603.91 million, a P/E ratio of 13.87, a PEG ratio of 0.65 and a beta of 2.14.

Chorus Aviation (TSE:CHR) last posted its quarterly earnings results on Tuesday, August 13th. The company reported C$0.08 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of C$404.00 million. Equities research analysts predict that Chorus Aviation will post 0.3 earnings per share for the current fiscal year.

Insider Activity at Chorus Aviation

In other Chorus Aviation news, Director David Levenson purchased 46,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was purchased at an average price of C$2.64 per share, for a total transaction of C$121,440.00. 13.83% of the stock is owned by corporate 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.