Cargojet (TSE:CJT) Shares Cross Above 200 Day Moving Average – Time to Sell?

Shares of Cargojet Inc. (TSE:CJT) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$84.84 and traded as high as C$88.00. Cargojet shares last traded at C$86.92, with a volume of 137,316 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have commented on CJT shares. National Bank Financial boosted their price target on shares of Cargojet from C$104.00 to C$108.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada reduced their target price on shares of Cargojet from C$143.00 to C$140.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. BMO Capital Markets reduced their target price on shares of Cargojet from C$94.00 to C$85.00 and set a “market perform” rating for the company in a research note on Wednesday, May 6th. TD upped their target price on shares of Cargojet from C$120.00 to C$124.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Canadian Imperial Bank of Commerce upped their target price on shares of Cargojet from C$116.00 to C$122.00 in a research note on Thursday, April 2nd. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$124.58.

Cargojet Stock Performance

The company has a debt-to-equity ratio of 123.57, a quick ratio of 0.79 and a current ratio of 0.91. The stock has a market cap of C$1.29 billion, a P/E ratio of 35.22 and a beta of 0.87. The company’s 50 day moving average price is C$82.12 and its 200-day moving average price is C$84.96.

Cargojet (TSE:CJT) last posted its earnings results on Monday, May 4th. The company reported C$0.60 earnings per share (EPS) for the quarter. The firm had revenue of C$254.70 million during the quarter. Cargojet had a net margin of 3.64% and a return on equity of 4.92%. Equities analysts forecast that Cargojet Inc. will post 5.890933 EPS for the current fiscal year.

Cargojet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Thursday, April 2nd were issued a $0.385 dividend. This is an increase from Cargojet’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, March 20th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.8%. Cargojet’s payout ratio is presently 58.57%.

About Cargojet

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.