Cargojet (TSE:CJT) Rating Increased to Outperform at National Bankshares

National Bankshares upgraded shares of Cargojet (TSE:CJT) from a sector perform rating to an outperform rating in a research report report published on Friday morning, BayStreet.CA reports. They currently have C$154.00 price objective on the stock, up from their previous price objective of C$132.00.

Other equities analysts have also recently issued research reports about the company. Cormark dropped their target price on Cargojet from C$121.00 to C$120.00 in a research report on Tuesday, February 27th. Acumen Capital upped their price objective on Cargojet from C$160.00 to C$165.00 and gave the stock a buy rating in a report on Tuesday, February 27th. Scotiabank raised their target price on Cargojet from C$145.00 to C$160.00 and gave the company an outperform rating in a report on Tuesday, June 11th. Royal Bank of Canada decreased their target price on shares of Cargojet from C$184.00 to C$182.00 and set an outperform rating on the stock in a research report on Tuesday, May 14th. Finally, BMO Capital Markets increased their price target on shares of Cargojet from C$110.00 to C$115.00 and gave the company a market perform rating in a report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Cargojet presently has an average rating of Buy and an average price target of C$154.45.

Cargojet Stock Performance

TSE:CJT opened at C$131.41 on Friday. The company has a debt-to-equity ratio of 85.77, a current ratio of 0.96 and a quick ratio of 0.79. The firm has a market cap of C$2.16 billion, a price-to-earnings ratio of 56.16 and a beta of 1.00. The firm’s fifty day moving average price is C$116.23 and its 200 day moving average price is C$115.05. Cargojet has a 1-year low of C$76.50 and a 1-year high of C$131.64.

Cargojet (TSE:CJT) last released its earnings results on Monday, April 29th. The company reported C$1.86 EPS for the quarter, topping the consensus estimate of C$0.71 by C$1.15. Cargojet had a net margin of 4.48% and a return on equity of 4.78%. The company had revenue of C$231.20 million during the quarter, compared to analysts’ expectations of C$233.80 million. On average, sell-side analysts expect that Cargojet will post 4.4768237 EPS for the current year.

Cargojet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.315 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $1.26 annualized dividend and a yield of 0.96%. Cargojet’s dividend payout ratio (DPR) is currently 53.85%.

Insiders Place Their Bets

In related news, Director Arlene Dickinson sold 1,400 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of C$112.00, for a total value of C$156,800.00. In other news, Senior Officer Pauline Dhillon sold 7,607 shares of Cargojet stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of C$118.50, for a total transaction of C$901,429.50. Following the completion of the sale, the insider now directly owns 445 shares in the company, valued at C$52,732.50. Also, Director Arlene Dickinson sold 1,400 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of C$112.00, for a total transaction of C$156,800.00. 2.71% of the stock is currently owned by company insiders.

Cargojet Company Profile

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.