Cargojet (OTCMKTS:CGJTF) Shares Gap Up – Still a Buy?

Cargojet Inc. (OTCMKTS:CGJTF)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $62.04, but opened at $67.64. Cargojet shares last traded at $67.64, with a volume of 100 shares.

Analyst Ratings Changes

Several research analysts have weighed in on the company. TD Securities reiterated a “buy” rating on shares of Cargojet in a report on Wednesday, May 6th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Cargojet in a research note on Wednesday. Finally, Scotiabank restated an “outperform” rating on shares of Cargojet in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cargojet has an average rating of “Moderate Buy”.

Cargojet Stock Performance

The stock’s 50-day moving average is $60.57 and its 200-day moving average is $62.43. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 1.20. The stock has a market cap of $968.50 million and a price-to-earnings ratio of 43.62.

Cargojet (OTCMKTS:CGJTF) last released its quarterly earnings data on Monday, August 10th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.09). The business had revenue of $194.16 million for the quarter, compared to analysts’ expectations of $184.05 million. Cargojet had a return on equity of 6.73% and a net margin of 4.48%.

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.