Canaccord Genuity Group Increases Cargojet (TSE:CJT) Price Target to C$156.00

Cargojet (TSE:CJT) had its price objective upped by Canaccord Genuity Group from C$150.00 to C$156.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports.

A number of other brokerages have also weighed in on CJT. TD Securities raised their price target on shares of Cargojet from C$162.00 to C$173.00 in a research note on Wednesday, June 12th. National Bank Financial raised shares of Cargojet from a hold rating to a strong-buy rating in a research note on Thursday, June 13th. Royal Bank of Canada raised their price target on shares of Cargojet from C$182.00 to C$189.00 and gave the company an outperform rating in a research note on Monday, July 8th. National Bankshares raised shares of Cargojet from a sector perform rating to an outperform rating and raised their price target for the company from C$132.00 to C$154.00 in a research note on Friday, June 14th. Finally, Acumen Capital increased their price objective on shares of Cargojet from C$165.00 to C$175.00 and gave the company a buy rating in a report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of C$156.73.

Cargojet Trading Up 1.4 %

CJT stock opened at C$130.34 on Wednesday. The company’s 50-day simple moving average is C$126.39 and its 200-day simple moving average is C$119.56. 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 has a 52-week low of C$76.50 and a 52-week high of C$143.64. The firm has a market cap of C$2.15 billion, a P/E ratio of 55.70 and a beta of 1.00.

Cargojet (TSE:CJT) last posted its 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. The business had revenue of C$231.20 million for the quarter, compared to analyst estimates of C$233.80 million. Cargojet had a net margin of 4.48% and a return on equity of 4.78%. As a group, equities analysts forecast that Cargojet will post 4.4768237 EPS for the current fiscal year.

Cargojet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, July 5th were issued a dividend of $0.315 per share. The ex-dividend date was Thursday, June 20th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.97%. Cargojet’s dividend payout ratio is currently 53.85%.

Insider Transactions at Cargojet

In other news, Senior Officer Ajay Kumar Virmani sold 950 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$133.25, for a total transaction of C$126,587.50. In other news, Senior Officer Pauline Dhillon sold 7,607 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of C$118.50, for a total transaction of C$901,429.50. Following the completion of the sale, the insider now owns 445 shares in the company, valued at approximately C$52,732.50. Also, Senior Officer Ajay Kumar Virmani sold 950 shares of the firm’s stock in a transaction that occurred 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. Insiders sold 18,979 shares of company stock worth $2,442,315 in the last 90 days. Insiders own 2.71% of the company’s stock.

Cargojet Company Profile

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.