Cargojet (TSE:CJT) Price Target Raised to C$189.00

Cargojet (TSE:CJTFree Report) had its price target upped by Royal Bank of Canada from C$182.00 to C$189.00 in a report published on Monday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other analysts also recently weighed in on the company. National Bankshares upgraded Cargojet from a sector perform rating to an outperform rating and increased their target price for the company from C$132.00 to C$154.00 in a research note on Friday, June 14th. Canaccord Genuity Group increased their target price on Cargojet from C$145.00 to C$148.00 in a research note on Wednesday, April 24th. CIBC increased their target price on Cargojet from C$159.00 to C$172.00 and gave the company an outperform rating in a research note on Monday, June 17th. National Bank Financial upgraded Cargojet from a hold rating to a strong-buy rating in a research note on Thursday, June 13th. Finally, TD Securities upped their price target on Cargojet from C$162.00 to C$173.00 in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of C$156.00.

View Our Latest Research Report on CJT

Cargojet Stock Performance

CJT opened at C$135.29 on Monday. The company has a market cap of C$2.23 billion, a PE ratio of 57.82 and a beta of 1.00. The stock has a 50-day moving average of C$123.81 and a 200-day moving average of C$118.32. Cargojet has a 52-week low of C$76.50 and a 52-week high of C$143.64. The company has a debt-to-equity ratio of 85.77, a quick ratio of 0.79 and a current ratio of 0.96.

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

Cargojet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, July 5th were paid a $0.315 dividend. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $1.26 annualized dividend and a dividend yield of 0.93%. Cargojet’s dividend payout ratio (DPR) is currently 53.85%.

Insider Buying and Selling

In related news, Senior Officer Ajay Kumar Virmani sold 950 shares of Cargojet stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$133.25, for a total transaction of C$126,587.50. In other Cargojet news, Senior Officer Ajay Kumar Virmani sold 950 shares of Cargojet stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$133.25, for a total transaction of C$126,587.50. Also, Senior Officer Paul David Rinaldo sold 1,500 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of C$133.25, for a total value of C$199,875.00. Insiders sold a total of 18,979 shares of company stock valued at $2,442,315 over the last three months. Company insiders own 2.71% of the company’s stock.

Cargojet Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Cargojet (TSE:CJT)

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