Scotiabank Forecasts Strong Price Appreciation for Chorus Aviation (TSE:CHR) Stock

Chorus Aviation (TSE:CHR) had its price target hoisted by investment analysts at Scotiabank from C$33.50 to C$37.00 in a report issued on Thursday, BayStreet reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 23.42% from the company’s current price.

A number of other equities analysts have also commented on CHR. Stifel Nicolaus raised their price target on shares of Chorus Aviation from C$32.00 to C$33.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. TD boosted their price objective on shares of Chorus Aviation from C$33.00 to C$34.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Royal Bank Of Canada boosted their price objective on shares of Chorus Aviation from C$35.00 to C$39.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Scotia increased their target price on shares of Chorus Aviation from C$31.00 to C$33.50 and gave the stock a “sector outperform” rating in a research report on Thursday, August 6th. Finally, BMO Capital Markets raised their target price on shares of Chorus Aviation from C$28.00 to C$32.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$33.17.

Chorus Aviation Stock Performance

CHR stock traded up C$0.32 during trading hours on Thursday, hitting C$29.98. 36,680 shares of the stock were exchanged, compared to its average volume of 43,372. The company has a current ratio of 0.97, a quick ratio of 0.53 and a debt-to-equity ratio of 60.84. The firm has a market capitalization of C$676.65 million, a P/E ratio of 15.14, a P/E/G ratio of 0.65 and a beta of 1.43. The company has a 50-day simple moving average of C$29.03 and a two-hundred day simple moving average of C$25.80. Chorus Aviation has a 12 month low of C$20.80 and a 12 month high of C$31.20.

Chorus Aviation (TSE:CHR) last posted its earnings results on Tuesday, August 4th. The company reported C$0.83 earnings per share for the quarter. The company 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%. On average, analysts forecast that Chorus Aviation will post 0.30 earnings per share for the current fiscal year.

About Chorus Aviation

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.