Canaccord Genuity Group Increases Chorus Aviation (TSE:CHR) Price Target to C$3.10

Chorus Aviation (TSE:CHR) had its price target boosted by equities researchers at Canaccord Genuity Group from C$2.50 to C$3.10 in a note issued to investors on Wednesday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 4.03% from the stock’s previous close.

A number of other analysts also recently issued reports on CHR. TD Securities lifted their price objective on Chorus Aviation from C$3.25 to C$3.50 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Royal Bank of Canada decreased their price objective on shares of Chorus Aviation from C$3.50 to C$3.25 and set an “outperform” rating for the company in a report on Friday, August 16th. Cormark upgraded shares of Chorus Aviation from a “market perform” rating to a “buy” rating and upped their target price for the stock from C$2.50 to C$4.05 in a research note on Wednesday, July 31st. Scotiabank lifted their price target on shares of Chorus Aviation from C$3.00 to C$3.25 in a research note on Wednesday, July 31st. Finally, CIBC dropped their price objective on Chorus Aviation from C$3.50 to C$3.25 in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Chorus Aviation currently has an average rating of “Moderate Buy” and a consensus target price of C$3.31.

Chorus Aviation Price Performance

CHR traded down C$0.05 during trading on Wednesday, hitting C$2.98. 90,931 shares of the company traded hands, compared to its average volume of 367,196. 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$569.51 million, a PE ratio of 12.96, a P/E/G ratio of 0.65 and a beta of 2.14. The stock’s 50-day simple moving average is C$2.73 and its two-hundred day simple moving average is C$2.47. Chorus Aviation has a 1 year low of C$1.99 and a 1 year high of C$3.25.

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

Insider Buying and Selling

In related news, Director David Levenson acquired 46,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of C$2.64 per share, for a total transaction of C$121,440.00. 13.83% 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.