Royal Bank of Canada Lowers Chorus Aviation (TSE:CHR) Price Target to C$9.00

Chorus Aviation (TSE:CHR) had its price target reduced by equities researchers at Royal Bank of Canada from C$9.50 to C$9.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 23.46% from the stock’s current price.

CHR has been the subject of a number of other research reports. CIBC cut their target price on shares of Chorus Aviation from C$9.50 to C$9.00 in a research report on Thursday, July 18th. TD Securities cut their target price on shares of Chorus Aviation from C$9.50 to C$9.00 and set a “buy” rating for the company in a research report on Friday, May 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of C$9.04.

TSE:CHR traded down C$0.39 during trading hours on Wednesday, reaching C$7.29. The company had a trading volume of 1,189,217 shares, compared to its average volume of 366,806. The company has a debt-to-equity ratio of 255.76, a quick ratio of 0.44 and a current ratio of 0.65. Chorus Aviation has a 52 week low of C$4.54 and a 52 week high of C$8.10. The stock has a market cap of $1.20 billion and a price-to-earnings ratio of 11.03. The company’s 50 day simple moving average is C$7.86.

In other news, Director Joseph D. Randell sold 32,100 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of C$7.43, for a total transaction of C$238,503.00. Following the completion of the sale, the director now owns 6,148 shares of the company’s stock, valued at approximately C$45,679.64. Also, Senior Officer Jolene Mahody sold 26,500 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of C$7.45, for a total transaction of C$197,425.00. Following the sale, the insider now directly owns 209,351 shares of the company’s stock, valued at approximately C$1,559,664.95. In the last three months, insiders have sold 59,455 shares of company stock valued at $442,332.

Chorus Aviation Company Profile

Chorus Aviation Inc, through its subsidiaries, engages in the airline business in Canada and the United States. It operates scheduled passenger service on behalf of Air Canada under the Air Canada Express brand name with approximately 694 departures per weekday to 60 destinations in Canada, as well as 18 destinations in the United States.

Further Reading: Gross Domestic Product (GDP)

Analyst Recommendations for Chorus Aviation (TSE:CHR)

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