Cargojet (TSE:CJT) PT Raised to C$189.00

Cargojet (TSE:CJT) had its target price boosted by Royal Bank of Canada from C$182.00 to C$189.00 in a research note published on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

CJT has been the topic of several other research reports. Scotiabank upgraded shares of Cargojet from a hold rating to a strong-buy rating in a research report on Friday, June 14th. CIBC boosted their price target on shares of Cargojet from C$159.00 to C$172.00 and gave the company an outperform rating in a research report on Monday, June 17th. Canaccord Genuity Group boosted their price target on shares of Cargojet from C$145.00 to C$148.00 in a research report on Wednesday, April 24th. National Bankshares raised shares of Cargojet from a sector perform rating to an outperform rating and boosted their price objective for the stock from C$132.00 to C$154.00 in a research note on Friday, June 14th. Finally, TD Securities boosted their price objective on shares of Cargojet from C$162.00 to C$173.00 in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Buy and an average price target of C$156.00.

Cargojet Price Performance

CJT stock opened at C$133.53 on Monday. The firm’s 50-day moving average price is C$124.14 and its two-hundred day moving average price is C$118.45. Cargojet has a 12-month low of C$76.50 and a 12-month high of C$143.64. The stock has a market capitalization of C$2.20 billion, a price-to-earnings ratio of 57.06 and a beta of 1.00. 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 released its quarterly earnings data on Monday, April 29th. The company reported C$1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of C$233.80 million. As a group, equities analysts predict that Cargojet will post 4.4768237 earnings per share for the current year.

Cargojet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, July 5th were given a dividend of $0.315 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $1.26 dividend on an annualized basis and a yield of 0.94%. Cargojet’s dividend payout ratio (DPR) is 53.85%.

Insider Activity at Cargojet

In related news, Director Arlene Dickinson sold 1,400 shares of the 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. In other Cargojet news, Senior Officer Paul David Rinaldo sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of C$133.25, for a total transaction of C$199,875.00. 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. Insiders have sold a total of 18,979 shares of company stock worth $2,442,315 over the last quarter. Company insiders own 2.71% of the company’s stock.

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.