Chorus Aviation (TSE:CHR) Price Target Raised to C$37.00

Key Points

• Scotiabank raised Chorus Aviation’s price target to C$37.00 from C$33.50 and maintained a “sector outperform” rating, implying 23.42% upside from the current price.
• Analyst sentiment remains strongly positive: eight analysts rate the stock a Buy, with a consensus rating of “Buy” and an average target price of C$33.17.
• Chorus Aviation shares rose 1.1% to C$29.98, while the company reported quarterly earnings of C$0.83 per share on revenue of C$349.42 million.

Chorus Aviation (TSE:CHR - Get Free Report) had its price objective increased by analysts at Scotiabank from C$33.50 to C$37.00 in a research note issued on Thursday, BayStreet reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price objective suggests a potential upside of 23.42% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Scotia increased their price objective on Chorus Aviation from C$31.00 to C$33.50 and gave the company a "sector outperform" rating in a report on Thursday, August 6th. TD boosted their target price on shares of Chorus Aviation from C$33.00 to C$34.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Royal Bank Of Canada upped their price target on shares of Chorus Aviation from C$35.00 to C$39.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. BMO Capital Markets upped their price target on shares of Chorus Aviation from C$28.00 to C$32.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Finally, Stifel Nicolaus increased 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 research note on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of C$33.17.

Chorus Aviation Stock Up 1.1%

TSE CHR traded up C$0.32 during trading hours on Thursday, hitting C$29.98. 36,680 shares of the company traded hands, compared to its average volume of 43,372. The business's 50-day moving average is C$29.03 and its 200-day moving average is C$25.80. Chorus Aviation has a twelve month low of C$20.80 and a twelve month high of C$31.20. The company has a debt-to-equity ratio of 60.84, a quick ratio of 0.53 and a current ratio of 0.97. The stock has a market capitalization of C$676.65 million, a price-to-earnings ratio of 15.14, a P/E/G ratio of 0.65 and a beta of 1.43.

Chorus Aviation (TSE:CHR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported C$0.83 earnings per share for the quarter. The firm had revenue of C$349.42 million during the quarter. Chorus Aviation had a return on equity of 9.32% and a net margin of 3.65%. Sell-side analysts anticipate that Chorus Aviation will post 0.30 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.

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