Cargojet (TSE:CJT) Stock Passes Above 50-Day Moving Average – Should You Sell?

Cargojet Inc. (TSE:CJT) shares passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$82.90 and traded as high as C$87.49. Cargojet shares last traded at C$86.93, with a volume of 99,463 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CJT shares. BMO Capital Markets cut their price objective on shares of Cargojet from C$94.00 to C$85.00 and set a “market perform” rating for the company in a research report on Wednesday, May 6th. Royal Bank Of Canada dropped their price target 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. National Bank Financial raised their price target on shares of Cargojet from C$104.00 to C$108.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. TD upped their price objective on Cargojet from C$120.00 to C$124.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Cargojet from C$116.00 to C$122.00 in a research report on Thursday, April 2nd. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Cargojet currently has a consensus rating of “Moderate Buy” and an average target price of C$124.58.

Cargojet Price Performance

The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 123.57. The stock has a market cap of C$1.30 billion, a PE ratio of 35.48 and a beta of 1.02. The company has a fifty day moving average of C$82.90 and a 200-day moving average of C$86.29.

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

Cargojet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, July 6th were issued a $0.385 dividend. The ex-dividend date was Friday, June 19th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.8%. Cargojet’s payout ratio is 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.