Chorus Aviation (TSE:CHR) Reaches New 12-Month High – Here’s What Happened

Chorus Aviation Inc. (TSE:CHR) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$3.30 and last traded at C$3.27, with a volume of 310369 shares traded. The stock had previously closed at C$3.17.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CHR shares. Cormark raised Chorus Aviation from a “market perform” rating to a “buy” rating and upped their target price for the company from C$2.50 to C$4.05 in a report on Wednesday, July 31st. TD Securities downgraded 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, November 8th. Scotiabank raised their price target on Chorus Aviation from C$3.00 to C$3.25 in a research note on Wednesday, July 31st. Royal Bank of Canada lowered 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. Finally, CIBC raised their target price on Chorus Aviation from C$3.25 to C$3.80 in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$3.37.

Chorus Aviation Price Performance

The company has a market cap of C$628.75 million, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 0.65 and a beta of 2.14. The company has a fifty day moving average price of C$2.89 and a two-hundred day moving average price of C$2.58. The company has a current ratio of 1.45, a quick ratio of 0.53 and a debt-to-equity ratio of 60.07.

Chorus Aviation (TSE:CHR) last posted its earnings results on Tuesday, August 13th. The company reported C$0.08 EPS for the quarter, topping the consensus estimate of C$0.06 by C$0.02. The business had revenue of C$351.22 million during 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%. As a group, equities research analysts anticipate that Chorus Aviation Inc. will post 0.3 EPS for the current fiscal year.

Insider Buying and Selling at Chorus Aviation

In other news, Director David Levenson bought 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. Corporate insiders own 13.83% 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.