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

Cargojet (TSE:CJT) had its target price raised by equities researchers at Desjardins from C$126.00 to C$135.00 in a report issued on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price objective points to a potential upside of 45.11% from the stock’s previous close.

CJT has been the subject of a number of other reports. BMO Capital Markets lifted their target price on shares of Cargojet from C$85.00 to C$90.00 in a research note on Wednesday. Scotiabank upped their price target 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. National Bank Financial upped their price target on shares of Cargojet from C$108.00 to C$109.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Finally, TD raised their price target on shares of Cargojet from C$118.00 to C$127.00 and gave the stock a “buy” rating in a report on Wednesday. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$120.92.

Cargojet Stock Down 0.7%

TSE CJT traded down C$0.64 during trading on Wednesday, hitting C$93.03. The company’s stock had a trading volume of 90,266 shares, compared to its average volume of 89,961. The company has a debt-to-equity ratio of 123.57, a current ratio of 0.91 and a quick ratio of 0.79. The company has a market cap of C$1.39 billion, a PE ratio of 37.97 and a beta of 1.02. The business’s 50 day simple moving average is C$84.71 and its 200-day simple moving average is C$86.21. Cargojet has a fifty-two week low of C$65.60 and a fifty-two week high of C$105.26.

Cargojet (TSE:CJT) last issued its quarterly earnings results on Monday, August 10th. The company reported C$0.47 earnings per share for the quarter. Cargojet had a return on equity of 4.92% and a net margin of 3.64%.The business had revenue of C$275.80 million for the quarter. On average, equities analysts anticipate that Cargojet will post 5.890933 EPS for the current fiscal year.

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.