Cargojet Inc (TSE:CJT) Downgraded to Sector Perform at National Bank Financial

Cargojet Inc (TSE:CJT) was downgraded by equities research analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a report issued on Wednesday, August 9th. They presently have a C$53.00 price target on the stock, up from their prior price target of C$51.00. National Bank Financial’s price target suggests a potential upside of 6.62% from the stock’s previous close. National Bank Financial also issued estimates for Cargojet’s Q3 2017 earnings at $0.47 EPS, FY2017 earnings at $1.72 EPS and FY2018 earnings at $2.85 EPS.

Separately, Raymond James Financial, Inc. lowered their target price on shares of Cargojet from C$57.00 to C$55.00 and set an “outperform” rating on the stock in a report on Tuesday, May 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of C$55.40.

Cargojet (CJT) traded down 0.58% on Wednesday, hitting $49.71. 5,495 shares of the company traded hands. The stock’s 50-day moving average is $48.57 and its 200 day moving average is $46.81. The stock has a market cap of $633.55 million and a PE ratio of 460.28. Cargojet has a 12 month low of $38.70 and a 12 month high of $52.56.

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In related news, insider Paul David Rinaldo sold 5,903 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of C$46.75, for a total transaction of C$275,965.25.

Cargojet Company Profile

Cargojet Inc provides time sensitive overnight air cargo services in Canada. Its air cargo business activities include operation of domestic overnight air cargo co-load network between 14 cities in Canada; and provision of dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis operating between points in Canada, North and South America, and Europe.

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