Cargojet (TSE:CJT) Stock Price Expected to Rise, Desjardins Analyst Says

Cargojet (TSE:CJT) had its target price hoisted by Desjardins from C$135.00 to C$151.00 in a report released on Friday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. Desjardins‘s price objective points to a potential upside of 39.20% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. National Bank Financial set a C$112.00 price objective on shares of Cargojet and gave the stock an “outperform” rating in a research report on Friday, October 2nd. BMO Capital Markets lifted their target price on shares of Cargojet from C$85.00 to C$90.00 in a report on Wednesday, August 12th. Acumen Capital boosted their price target on shares of Cargojet from C$115.00 to C$120.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. TD increased their price target on shares of Cargojet from C$129.00 to C$134.00 and gave the stock a “buy” rating in a report on Friday. Finally, Stifel Nicolaus raised their price objective on shares of Cargojet from C$125.00 to C$135.00 and gave the company a “buy” rating in a research report on Friday. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Cargojet has an average rating of “Moderate Buy” and a consensus price target of C$126.73.

Cargojet Stock Performance

Shares of TSE:CJT traded down C$0.29 during trading on Friday, reaching C$108.48. The company had a trading volume of 86,571 shares, compared to its average volume of 105,408. The firm has a market capitalization of C$1.61 billion, a price-to-earnings ratio of 35.11 and a beta of 0.72. The company has a debt-to-equity ratio of 119.27, a current ratio of 0.83 and a quick ratio of 0.79. The stock’s fifty day moving average price is C$86.84 and its 200 day moving average price is C$86.27. Cargojet has a fifty-two week low of C$71.00 and a fifty-two week high of C$112.71.

Cargojet (TSE:CJT) last issued its quarterly earnings results 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 firm had revenue of C$286.50 million during the quarter. As a group, equities research analysts predict that Cargojet will post 5.89 EPS for the current year.

About Cargojet

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.