Royal Bank Of Canada Forecasts Strong Price Appreciation for Chorus Aviation (TSE:CHR) Stock

Chorus Aviation (TSE:CHR) had its target price hoisted by equities researchers at Royal Bank Of Canada from C$35.00 to C$39.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 39.73% from the stock’s previous close.

Several other brokerages have also issued reports on CHR. TD lifted their price target on shares of Chorus Aviation from C$32.00 to C$33.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Stifel Nicolaus boosted their target price on shares of Chorus Aviation from C$32.00 to C$33.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Scotia increased their price target on Chorus Aviation from C$31.00 to C$33.50 and gave the company a “sector outperform” rating in a research note on Thursday. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$32.39.

Chorus Aviation Price Performance

Shares of CHR stock traded up C$0.91 during trading hours on Thursday, reaching C$27.91. The company’s stock had a trading volume of 127,075 shares, compared to its average volume of 37,654. Chorus Aviation has a fifty-two week low of C$19.56 and a fifty-two week high of C$27.91. The firm’s 50 day simple moving average is C$24.55 and its 200-day simple moving average is C$23.51. The company has a quick ratio of 0.53, a current ratio of 1.38 and a debt-to-equity ratio of 76.81. The company has a market capitalization of C$641.43 million, a price-to-earnings ratio of 10.73, a PEG ratio of 0.65 and a beta of 1.77.

Chorus Aviation (TSE:CHR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported C$0.83 earnings per share for the quarter. Chorus Aviation had a return on equity of 12.73% and a net margin of 5.16%.The business had revenue of C$349.42 million during the quarter. Sell-side analysts forecast that Chorus Aviation will post 0.3 earnings per share for the current year.

Chorus Aviation Company Profile

Chorus is a holding company which owns the following principal operating subsidiaries: Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines; and Elisen & Associates, a leading provider of aerospace engineering and certification services.