Analysts Set Cargojet Inc. (TSE:CJT) Price Target at C$156.73

Shares of Cargojet Inc. (TSE:CJT) have earned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is C$156.73.

A number of research firms have weighed in on CJT. National Bankshares upgraded Cargojet from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$132.00 to C$154.00 in a report on Friday, June 14th. National Bank Financial raised shares of Cargojet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 13th. CIBC lifted their target price on Cargojet from C$159.00 to C$172.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th. Scotiabank downgraded Cargojet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, Canaccord Genuity Group lifted their price objective on Cargojet from C$150.00 to C$156.00 in a report on Wednesday, July 24th.

Cargojet Stock Down 4.7 %

Shares of CJT opened at C$120.03 on Tuesday. The firm has a market cap of C$1.98 billion, a PE ratio of 51.29 and a beta of 1.00. The company has a quick ratio of 0.79, a current ratio of 0.96 and a debt-to-equity ratio of 85.77. The company’s fifty day moving average is C$127.27 and its two-hundred day moving average is C$119.86. Cargojet has a fifty-two week low of C$76.50 and a fifty-two week high of C$143.64.

Cargojet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, July 5th were given a $0.315 dividend. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $1.26 annualized dividend and a dividend yield of 1.05%. Cargojet’s dividend payout ratio (DPR) is presently 53.85%.

Insider Activity

In related news, Senior Officer Pauline Dhillon sold 7,607 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was 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 of the company’s stock, valued at approximately C$52,732.50. In related news, Senior Officer Pauline Dhillon sold 7,607 shares of Cargojet 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 owns 445 shares in the company, valued at approximately C$52,732.50. Also, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of C$140.60, for a total value of C$1,057,623.29. Over the last quarter, insiders have sold 18,979 shares of company stock worth $2,442,315. 2.71% of the stock is owned by corporate insiders.

About Cargojet

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.