Chorus Aviation (TSE:CHR) Shares Pass Above Fifty Day Moving Average of $2.65

Chorus Aviation Inc. (TSE:CHR) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$2.65 and traded as high as C$2.78. Chorus Aviation shares last traded at C$2.72, with a volume of 189,976 shares traded.

Wall Street Analysts Forecast Growth

CHR has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their price target on Chorus Aviation from C$3.50 to C$3.25 and set an “outperform” rating on the stock in a research report on Friday, August 16th. TD Securities dropped their price target on Chorus Aviation from C$3.50 to C$3.25 in a research report on Monday, August 19th. CIBC dropped their price target on Chorus Aviation from C$3.50 to C$3.25 in a research report on Thursday, August 15th. Scotiabank raised their price target on Chorus Aviation from C$3.00 to C$3.25 in a research report on Wednesday, July 31st. Finally, Cormark upgraded Chorus Aviation from a “market perform” rating to a “buy” rating and increased their price objective for the stock from C$2.50 to C$4.05 in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Chorus Aviation presently has an average rating of “Moderate Buy” and an average target price of C$3.21.

Chorus Aviation Price Performance

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 50 day moving average price of C$2.65 and a 200 day moving average price of C$2.35. The company has a market capitalization of C$519.82 million, a P/E ratio of 11.83, a P/E/G ratio of 0.65 and a beta of 2.13.

Chorus Aviation (TSE:CHR) last issued 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. Chorus Aviation had a positive return on equity of 7.10% and a negative net margin of 6.95%. The company had revenue of C$351.22 million during the quarter, compared to the consensus estimate of C$404.00 million. On average, equities analysts predict that Chorus Aviation Inc. will post 0.2998897 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director David Levenson purchased 46,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was acquired 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.