Scotiabank Has Lowered Expectations for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its price target reduced by equities research analysts at Scotiabank from C$165.00 to C$139.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 69.51% from the company’s previous close.

CJT has been the topic of several other research reports. Canaccord Genuity Group boosted their target price on Cargojet from C$165.00 to C$173.00 in a research report on Wednesday, February 19th. Cormark dropped their price target on Cargojet from C$140.00 to C$120.00 in a research note on Wednesday, February 19th. Royal Bank of Canada increased their price objective on shares of Cargojet from C$189.00 to C$193.00 in a research note on Wednesday, February 19th. National Bankshares cut their price objective on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Finally, CIBC decreased their price objective on shares of Cargojet from C$177.00 to C$163.00 in a report on Wednesday, February 19th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cargojet has a consensus rating of “Buy” and an average target price of C$160.20.

Cargojet Stock Performance

CJT traded up C$0.37 during trading on Wednesday, hitting C$82.00. The company’s stock had a trading volume of 53,470 shares, compared to its average volume of 99,778. The business’s 50 day simple moving average is C$101.36 and its 200-day simple moving average is C$116.39. The firm has a market cap of C$1.31 billion, a PE ratio of 575.48 and a beta of 0.91. Cargojet has a one year low of C$79.63 and a one year high of C$144.97. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69.

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.