Chorus Aviation (TSE:CHR) Shares Cross Above 50-Day Moving Average – Here’s Why

Chorus Aviation Inc. (TSE:CHR)’s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$2.69 and traded as high as C$2.95. Chorus Aviation shares last traded at C$2.88, with a volume of 143,846 shares.

Analysts Set New Price Targets

A number of research analysts have weighed in on CHR shares. National Bankshares lifted their price objective on shares of Chorus Aviation from C$3.65 to C$3.85 in a report on Thursday, August 15th. Royal Bank of Canada dropped 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. Cormark upgraded Chorus Aviation from a “market perform” rating to a “buy” rating and boosted their price objective for the company from C$2.50 to C$4.05 in a research report on Wednesday, July 31st. CIBC decreased their target price on Chorus Aviation from C$3.50 to C$3.25 in a research report on Thursday, August 15th. Finally, Scotiabank upped their price objective on shares of Chorus Aviation from C$3.00 to C$3.25 in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$3.21.

Chorus Aviation Stock Performance

The firm has a market cap of C$550.40 million, a PE ratio of 12.52, a price-to-earnings-growth ratio of 0.65 and a beta of 2.14. The firm has a fifty day moving average price of C$2.69 and a 200 day moving average price of C$2.44. 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 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. The business had revenue of C$351.22 million during the quarter, compared to analysts’ expectations of C$404.00 million. Chorus Aviation had a negative net margin of 6.95% and a positive return on equity of 7.10%. As a group, equities research analysts expect that Chorus Aviation Inc. will post 0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Chorus Aviation

In other Chorus Aviation news, Director David Levenson acquired 46,000 shares of the business’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, with a total value of C$121,440.00. Company insiders own 13.83% of the company’s stock.

Chorus Aviation Company Profile

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.