Cargojet (TSE:CJT) Reaches New 52-Week High – Should You Buy?

Cargojet Inc. (TSE:CJT)’s share price hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as C$110.30 and last traded at C$108.14, with a volume of 111,577 shares changing hands. The stock had previously closed at C$98.62.

Wall Street Analysts Forecast Growth

CJT has been the subject of several recent research reports. ATB Cormark Capital Markets boosted their price target on Cargojet from C$110.00 to C$120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. TD set a C$128.00 price objective on Cargojet and gave the stock a “buy” rating in a report on Friday, October 2nd. Acumen Capital raised their price objective on shares of Cargojet from C$115.00 to C$120.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. National Bank Financial set a C$112.00 target price on shares of Cargojet and gave the company an “outperform” rating in a research note on Friday, October 2nd. Finally, Scotiabank lifted their target price on shares of Cargojet from C$120.00 to C$125.00 and gave the company a “sector outperform” rating in a research note on Wednesday, August 12th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$121.09.

Cargojet Stock Performance

The company has a debt-to-equity ratio of 119.27, a quick ratio of 0.79 and a current ratio of 0.83. The company has a market cap of C$1.59 billion, a P/E ratio of 34.83 and a beta of 0.72. The firm has a 50 day moving average price of C$86.27 and a 200-day moving average price of C$86.19.

Cargojet (TSE:CJT) last issued its quarterly earnings data on Wednesday, November 11th. The company reported C$1.21 earnings per share for the quarter. Cargojet had a return on equity of 6.30% and a net margin of 4.49%. The business had revenue of C$286.50 million for the quarter. On average, research analysts predict that Cargojet Inc. will post 5.89 EPS for the current year.

Cargojet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, October 5th were issued a dividend of $0.3850 per share. This represents a $1.54 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, September 18th. Cargojet’s dividend payout ratio (DPR) is 47.57%.

Cargojet Company Profile

Cargojet is Canada’s leading provider of time-sensitive premium air cargo services to all major cities across North America, providing Dedicated, ACMI and International Charter services and carries over 25,000,000 pounds of cargo weekly. Cargojet operates its network with its own fleet of 41 aircraft.