Cargojet Inc. (TSE:CJT) has been assigned a consensus rating of “Buy” from the twelve research firms that are currently covering the firm, MarketBeat 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 objective among brokerages that have updated their coverage on the stock in the last year is C$250.83.
Several research firms have recently commented on CJT. TD Securities upped their price objective on shares of Cargojet from C$230.00 to C$235.00 and gave the company a “buy” rating in a report on Wednesday, August 4th. Scotiabank upped their price objective on shares of Cargojet from C$225.00 to C$235.00 in a research report on Wednesday, August 4th. Cormark restated an “outperform” rating and set a C$275.00 price objective on shares of Cargojet in a research report on Wednesday, August 4th. National Bankshares cut shares of Cargojet from an “outperform” rating to a “hold” rating and reduced their price objective for the stock from C$228.00 to C$205.00 in a research report on Thursday. Finally, National Bank Financial upgraded shares of Cargojet to a “sector perform” rating and set a C$205.00 price objective for the company in a research report on Thursday.
TSE:CJT traded down C$4.83 during trading hours on Friday, hitting C$192.68. 49,644 shares of the company were exchanged, compared to its average volume of 92,299. The stock has a market capitalization of C$3.34 billion and a price-to-earnings ratio of 86.65. Cargojet has a 52-week low of C$159.80 and a 52-week high of C$250.01. The company has a debt-to-equity ratio of 71.32, a current ratio of 2.05 and a quick ratio of 1.70. The company’s 50 day moving average price is C$197.88 and its 200-day moving average price is C$185.85.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 5th. Stockholders of record on Tuesday, October 5th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, September 17th. Cargojet’s payout ratio is 44.03%.
In related news, Senior Officer Paul David Rinaldo sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 28th. The shares were sold at an average price of C$206.70, for a total value of C$413,400.00. Following the completion of the sale, the insider now owns 2,625 shares of the company’s stock, valued at C$542,587.50.
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 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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