Cargojet (TSE:CJT) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Shares of Cargojet Inc. (TSE:CJT) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$126.47 and traded as low as C$110.65. Cargojet shares last traded at C$113.54, with a volume of 82,958 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on CJT. CIBC upped their price target on Cargojet from C$172.00 to C$177.00 in a research note on Wednesday, December 4th. Canaccord Genuity Group raised their target price on shares of Cargojet from C$160.00 to C$165.00 in a research note on Wednesday, November 6th. National Bankshares boosted their price target on shares of Cargojet from C$154.00 to C$158.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. TD Securities reduced their price objective on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, ATB Capital lowered their price objective on Cargojet from C$165.00 to C$155.00 in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cargojet has an average rating of “Moderate Buy” and an average price target of C$159.27.

Cargojet Price Performance

The firm has a market cap of C$1.94 billion, a PE ratio of -126.32 and a beta of 0.91. The company has a 50 day moving average price of C$116.24 and a 200 day moving average price of C$126.17. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84.

Cargojet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, January 3rd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Friday, December 20th. Cargojet’s dividend payout ratio is currently -147.37%.

About Cargojet

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.