Cargojet (OTCMKTS:CGJTF) Shares Gap Down – Time to Sell?

Shares of Cargojet Inc. (OTCMKTS:CGJTF) gapped down before the market opened on Monday . The stock had previously closed at $62.99, but opened at $60.06. Cargojet shares last traded at $60.06, with a volume of 69 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. TD Securities reiterated a “buy” rating on shares of Cargojet in a report on Wednesday, May 6th. Scotiabank restated an “outperform” rating on shares of Cargojet in a report on Thursday, July 16th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Cargojet currently has an average rating of “Moderate Buy”.

Cargojet Trading Up 1.4%

The stock has a market capitalization of $907.11 million and a price-to-earnings ratio of 40.86. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.88 and a current ratio of 0.91. The firm has a fifty day moving average of $60.30 and a 200-day moving average of $62.72.

Cargojet (OTCMKTS:CGJTF) last released its quarterly earnings data on Monday, May 4th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.16). Cargojet had a net margin of 3.62% and a return on equity of 4.96%. The company had revenue of $185.68 million during the quarter, compared to analysts’ expectations of $175.56 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.