Cargojet (TSE:CJT) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

Cargojet Inc. (TSE:CJT) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$128.01 and traded as low as C$109.97. Cargojet shares last traded at C$111.60, with a volume of 89,520 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CJT. CIBC upped their price target on shares of Cargojet from C$172.00 to C$177.00 in a research note on Wednesday, December 4th. National Bankshares lifted their price target on Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. ATB Capital dropped their price objective on Cargojet from C$165.00 to C$155.00 in a report on Wednesday, November 6th. Canaccord Genuity Group boosted their target price on shares of Cargojet from C$160.00 to C$165.00 in a research report on Wednesday, November 6th. Finally, TD Securities cut their price target on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cargojet presently has a consensus rating of “Moderate Buy” and an average price target of C$159.27.

Cargojet Stock Performance

The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79. The company has a market capitalization of C$1.76 billion, a price-to-earnings ratio of -117.47 and a beta of 0.91. The business has a fifty day moving average price of C$128.69 and a 200 day moving average price of C$127.95.

Cargojet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, January 3rd will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of ∞. The ex-dividend date is Friday, December 20th. Cargojet’s dividend payout ratio (DPR) is presently -147.37%.

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.