Cargojet (TSE:CJT) Share Price Passes Above Two Hundred Day Moving Average of $116.41

Cargojet Inc. (TSE:CJT) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$116.41 and traded as high as C$135.05. Cargojet shares last traded at C$134.00, with a volume of 76,566 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Canaccord Genuity Group lifted their price target on shares of Cargojet from C$145.00 to C$148.00 in a research note on Wednesday, April 24th. CIBC boosted their target price on shares of Cargojet from C$159.00 to C$172.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Royal Bank of Canada dropped their price target on Cargojet from C$184.00 to C$182.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 14th. National Bankshares raised Cargojet from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$132.00 to C$154.00 in a report on Friday, June 14th. Finally, National Bank Financial raised Cargojet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 13th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$154.45.

Cargojet Trading Up 5.6 %

The stock has a fifty day simple moving average of C$119.13 and a 200 day simple moving average of C$116.57. The firm has a market capitalization of C$2.30 billion, a P/E ratio of 58.56 and a beta of 1.00. The company has a quick ratio of 0.79, a current ratio of 0.96 and a debt-to-equity ratio of 85.77.

Cargojet (TSE:CJT) last released its earnings results on Monday, April 29th. The company reported C$1.86 EPS for the quarter, topping the consensus estimate of C$0.71 by C$1.15. Cargojet had a net margin of 4.48% and a return on equity of 4.78%. The firm had revenue of C$231.20 million for the quarter, compared to the consensus estimate of C$233.80 million. As a group, research analysts forecast that Cargojet Inc. will post 4.4768237 EPS for the current year.

Cargojet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, July 5th will be paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, June 20th. Cargojet’s payout ratio is 53.85%.

Insider Transactions at Cargojet

In related news, Director Arlene Dickinson sold 1,400 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of C$112.00, for a total value of C$156,800.00. In other Cargojet news, Senior Officer Paul David Rinaldo sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of C$133.25, for a total transaction of C$199,875.00. Also, Director Arlene Dickinson sold 1,400 shares of Cargojet stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of C$112.00, for a total value of C$156,800.00. Insiders have sold 10,507 shares of company stock valued at $1,258,105 in the last ninety days. Corporate insiders own 2.71% of the company’s stock.

About Cargojet

Cargojet Inc provides time sensitive overnight air cargo services and carriers in Canada. It operates domestic air cargo network services between 16 Canadian cities; and provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis operating between points in Canada, North and South America, and Europe.