Cargojet Inc. (TSE:CJT) Senior Officer Ajay Kumar Virmani Sells 7,522 Shares

Cargojet Inc. (TSE:CJT) Senior Officer Ajay Kumar Virmani sold 7,522 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of C$140.60, for a total transaction of C$1,057,623.29.

Ajay Kumar Virmani also recently made the following trade(s):

• On Monday, June 24th, Ajay Kumar Virmani sold 950 shares of Cargojet stock. The shares were sold at an average price of C$133.25, for a total transaction of C$126,587.50.

Cargojet Stock Performance

TSE:CJT traded up C$0.51 during mid-day trading on Wednesday, hitting C$139.96. The stock had a trading volume of 25,916 shares, compared to its average volume of 54,156. The stock has a market capitalization of C$2.31 billion, a price-to-earnings ratio of 59.87 and a beta of 1.00. The company has a 50 day simple moving average of C$121.42 and a 200-day simple moving average of C$117.34. Cargojet Inc. has a 52 week low of C$76.50 and a 52 week 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.

Cargojet (TSE:CJT) last issued its quarterly earnings data on Monday, April 29th. The company reported C$1.86 earnings per share for the quarter, beating 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 firm had revenue of C$231.20 million for the quarter, compared to the consensus estimate of C$233.80 million. On average, research analysts expect that Cargojet Inc. will post 4.4768237 earnings per share for the current fiscal year.

Cargojet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, July 5th will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.90%. Cargojet’s dividend payout ratio (DPR) is 53.85%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CJT. Canaccord Genuity Group increased their price target on shares of Cargojet from C$145.00 to C$148.00 in a research note on Wednesday, April 24th. CIBC raised their price target on shares of Cargojet from C$159.00 to C$172.00 and gave the company an “outperform” rating in a report on Monday, June 17th. National Bankshares raised shares of Cargojet from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$132.00 to C$154.00 in a report on Friday, June 14th. National Bank Financial raised shares of Cargojet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 13th. Finally, Scotiabank raised shares of Cargojet from a “hold” rating to a “strong-buy” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Cargojet presently has an average rating of “Buy” and an average target price of C$155.36.

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.