Cargojet (TSE:CJT – Free Report) had its price target hoisted by ATB Capital from C$160.00 to C$165.00 in a research note released on Thursday morning, BayStreet.CA reports.
A number of other brokerages have also commented on CJT. National Bank Financial upgraded Cargojet from a hold rating to a strong-buy rating in a report on Thursday, June 13th. TD Securities upped their target price on shares of Cargojet from C$173.00 to C$176.00 in a research note on Thursday. CIBC increased their price target on shares of Cargojet from C$159.00 to C$172.00 and gave the company an outperform rating in a report on Monday, June 17th. Canaccord Genuity Group boosted their price objective on shares of Cargojet from C$150.00 to C$156.00 in a report on Wednesday, July 24th. Finally, National Bankshares raised shares of Cargojet from a sector perform rating to an outperform rating and upped their price objective for the company from C$132.00 to C$154.00 in a research report on Friday, June 14th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of C$159.55.
Check Out Our Latest Stock Analysis on CJT
Cargojet Trading Down 1.1 %
Cargojet Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be given a dividend of $0.35 per share. This is a positive change from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, September 20th. Cargojet’s payout ratio is 53.85%.
Insider Activity at Cargojet
In other news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of C$140.60, for a total value of C$1,057,623.29. In related news, Senior Officer Pauline Dhillon sold 7,607 shares of Cargojet stock in a transaction dated 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 transaction, the insider now directly owns 445 shares of the company’s stock, valued at approximately C$52,732.50. Also, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of C$140.60, for a total transaction of C$1,057,623.29. Insiders have sold a total of 18,979 shares of company stock valued at $2,442,315 over the last quarter. 2.65% of the stock is owned by company insiders.
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.
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