Analysts Set Cargojet Inc. (TSE:CJT) Price Target at C$254.67

Shares of Cargojet Inc. (TSE:CJT) have been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are currently covering the company, reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$250.83.

A number of equities analysts have weighed in on CJT shares. TD Securities upped their price target on Cargojet from C$230.00 to C$235.00 and gave the stock a “buy” rating in a report on Wednesday, August 4th. National Bankshares lowered Cargojet from an “outperform” rating to a “hold” rating and cut their target price for the company from C$228.00 to C$205.00 in a research report on Thursday. Cormark reaffirmed an “outperform” rating and issued a C$275.00 target price on shares of Cargojet in a research report on Wednesday, August 4th. Scotiabank upped their target price on Cargojet from C$225.00 to C$235.00 in a research report on Wednesday, August 4th. Finally, National Bank Financial raised Cargojet to a “sector perform” rating and set a C$205.00 target price on the stock in a research report on Thursday.

In related news, Senior Officer Paul David Rinaldo sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 28th. The stock was sold at an average price of C$206.70, for a total transaction of C$413,400.00. Following the completion of the transaction, the insider now directly owns 2,625 shares in the company, valued at approximately C$542,587.50.

TSE CJT traded down C$4.83 on Friday, reaching C$192.68. The company had a trading volume of 49,644 shares, compared to its average volume of 92,299. The firm has a market capitalization of C$3.34 billion and a PE ratio of 86.65. Cargojet has a 1 year low of C$159.80 and a 1 year high of C$250.01. The firm has a 50-day moving average of C$197.88 and a 200-day moving average of C$185.85. The company has a debt-to-equity ratio of 71.32, a current ratio of 2.05 and a quick ratio of 1.70.

Cargojet (TSE:CJT) last released its quarterly earnings results on Tuesday, August 3rd. The company reported C$0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$1.03 by C($0.09). The business had revenue of C$172.10 million during the quarter, compared to analysts’ expectations of C$160.90 million. As a group, sell-side analysts expect that Cargojet will post 6.2200001 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 5th. Investors of record on Tuesday, October 5th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Friday, September 17th. Cargojet’s dividend payout ratio is currently 44.03%.

About Cargojet

Cargojet Inc provides time sensitive overnight air cargo services in Canada. Its air cargo business activities include operation of domestic overnight air cargo services between fourteen cities in North America; 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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Analyst Recommendations for Cargojet (TSE:CJT)

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