Cargojet Inc. (TSE:CJT) Receives Average Rating of “Moderate Buy” from Analysts

Cargojet Inc. (TSE:CJT) has been given an average rating of “Moderate Buy” by the ten analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$156.73.

A number of brokerages have issued reports on CJT. National Bank Financial raised Cargojet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 13th. TD Securities increased their price target on shares of Cargojet from C$162.00 to C$173.00 in a research note on Wednesday, June 12th. Canaccord Genuity Group boosted their price objective on shares of Cargojet from C$150.00 to C$156.00 in a research report on Wednesday, July 24th. Acumen Capital increased their target price on shares of Cargojet from C$165.00 to C$175.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, National Bankshares raised shares of Cargojet from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$132.00 to C$154.00 in a research report on Friday, June 14th.

Insider Transactions at Cargojet

In other Cargojet news, Senior Officer Pauline Dhillon sold 7,607 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of C$118.50, for a total value of C$901,429.50. Following the transaction, the insider now directly owns 445 shares of the company’s stock, valued at approximately C$52,732.50. In related news, Senior Officer Pauline Dhillon sold 7,607 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of C$118.50, for a total value of C$901,429.50. Following the completion of the sale, the insider now owns 445 shares in the company, valued at C$52,732.50. Also, Director Arlene Dickinson sold 1,400 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of C$112.00, for a total value of C$156,800.00. Insiders sold 18,979 shares of company stock worth $2,442,315 over the last 90 days. 2.71% of the stock is currently owned by insiders.

Cargojet Stock Performance

Shares of CJT opened at C$120.03 on Tuesday. Cargojet has a 1 year low of C$76.50 and a 1 year high of C$143.64. The stock has a market capitalization of C$1.98 billion, a PE ratio of 51.29 and a beta of 1.00. The company has a debt-to-equity ratio of 85.77, a quick ratio of 0.79 and a current ratio of 0.96. The stock has a 50-day simple moving average of C$127.27 and a 200-day simple moving average of C$119.86.

Cargojet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, July 5th were issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, June 20th. Cargojet’s payout ratio is currently 53.85%.

Cargojet Company Profile

Cargojet Inc provides time sensitive overnight air cargo services and carriers in Canada. It operates domestic air cargo network services between 16 Canadian cities; and provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis operating between points in Canada, North and South America, and Europe.