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

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

Several other analysts also recently commented on CJT. TD Securities raised their target price on Cargojet from C$162.00 to C$173.00 in a research note on Wednesday, June 12th. Acumen Capital raised their target price on Cargojet from C$165.00 to C$175.00 and gave the company a buy rating in a research note on Wednesday, July 3rd. CIBC raised their target price on Cargojet from C$159.00 to C$172.00 and gave the company an outperform rating in a research note on Monday, June 17th. National Bank Financial upgraded Cargojet from a hold rating to a strong-buy rating in a research note on Thursday, June 13th. Finally, Scotiabank downgraded Cargojet from a strong-buy rating to a hold rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cargojet has an average rating of Moderate Buy and an average price target of C$156.73.

Cargojet Stock Performance

CJT stock opened at C$130.34 on Wednesday. The stock has a 50-day moving average price of C$126.18 and a 200-day moving average price of C$119.46. Cargojet has a 1-year low of C$76.50 and a 1-year high of C$143.64. The company has a current ratio of 0.96, a quick ratio of 0.79 and a debt-to-equity ratio of 85.77. The firm has a market cap of C$2.15 billion, a PE ratio of 55.70 and a beta of 1.00.

Cargojet (TSE:CJT) last posted its quarterly earnings data on Monday, April 29th. The company reported C$1.86 earnings per share for the quarter, topping the consensus estimate of C$0.71 by C$1.15. Cargojet had a return on equity of 4.78% and a net margin of 4.48%. The firm had revenue of C$231.20 million during the quarter, compared to analyst estimates of C$233.80 million. As a group, equities research analysts expect that Cargojet will post 4.4768237 earnings per share for the current year.

Cargojet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, July 5th were paid 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 yield of 0.97%. Cargojet’s dividend payout ratio (DPR) is currently 53.85%.

Insider Buying and Selling at Cargojet

In other Cargojet news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of Cargojet stock in a transaction dated Friday, June 28th. The stock was sold at an average price of C$140.60, for a total transaction of C$1,057,623.29. In other news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the business’s 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. Also, Senior Officer Paul David Rinaldo sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of C$133.25, for a total value of C$199,875.00. In the last quarter, insiders sold 18,979 shares of company stock worth $2,442,315. Insiders own 2.71% of the company’s stock.

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.