Cargojet (OTCMKTS:CGJTF) Shares Gap Up – Time to Buy?

Shares of Cargojet Inc. (OTCMKTS:CGJTF) gapped up prior to trading on Tuesday . The stock had previously closed at $58.35, but opened at $60.52. Cargojet shares last traded at $60.52, with a volume of 1 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CGJTF. Scotiabank reissued an “outperform” rating on shares of Cargojet in a report on Wednesday, January 21st. BMO Capital Markets restated a “market perform” rating on shares of Cargojet in a research report on Thursday, January 15th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Cargojet Price Performance

The firm’s 50-day moving average is $66.09 and its two-hundred day moving average is $62.24. The company has a market cap of $887.97 million and a P/E ratio of 56.76. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.23 and a quick ratio of 1.20.

Cargojet (OTCMKTS:CGJTF) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.32. Cargojet had a net margin of 7.97% and a return on equity of 10.00%. The company had revenue of $207.32 million for the quarter, compared to analysts’ expectations of $251.30 million.

Cargojet Company Profile

Cargojet Inc is a Canadian-based air cargo carrier specializing in time-sensitive freight transportation. The company operates scheduled and on-demand cargo services throughout Canada and into international markets, providing next-flight-out and overnight delivery for a broad range of shippers. Cargojet’s fleet—anchored by Boeing 767-300ER freighters—is configured to handle standard palletized freight as well as specialized shipments such as temperature-controlled pharmaceuticals and high-value electronics.

Headquartered in Mississauga, Ontario, Cargojet serves major Canadian gateways including Toronto, Vancouver and Montreal, and extends its network into the United States, the Caribbean and select Latin American destinations.