Chorus Aviation (TSE:CHR) Sets New 52-Week High – Should You Buy?

Shares of Chorus Aviation Inc. (TSE:CHR) reached 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. The stock had previously closed at C$3.17.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CHR. Royal Bank of Canada decreased their price objective on 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 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 report on Wednesday, July 31st. Scotiabank raised their price objective on Chorus Aviation from C$3.00 to C$3.25 in a report on Wednesday, July 31st. CIBC raised their price objective on Chorus Aviation from C$3.25 to C$3.80 in a report on Friday, November 8th. Finally, TD Securities cut Chorus Aviation from a “buy” rating to a “hold” rating and set a C$3.50 price objective for the company. in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Chorus Aviation presently has an average rating of “Moderate Buy” and a consensus target price of C$3.37.

Chorus Aviation Price Performance

The company’s 50-day simple moving average is C$2.87 and its 200-day simple moving average is C$2.57. The company has a debt-to-equity ratio of 60.07, a current ratio of 1.45 and a quick ratio of 0.53. The stock has a market capitalization of C$642.13 million, a price-to-earnings ratio of 13.78, a P/E/G ratio of 0.65 and a beta of 2.14.

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

Insiders Place Their Bets

In other Chorus Aviation news, Director David Levenson purchased 46,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of C$2.64 per share, for a total transaction 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.