ATB Capital Issues Pessimistic Forecast for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its target price cut by investment analysts at ATB Capital from C$165.00 to C$155.00 in a note issued to investors on Wednesday, BayStreet.CA reports. ATB Capital’s price objective indicates a potential upside of 17.52% from the stock’s previous close.

CJT has been the subject of a number of other research reports. Cormark boosted their target price on Cargojet from C$135.00 to C$140.00 in a research note on Thursday, August 15th. Scotiabank downgraded Cargojet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Canaccord Genuity Group increased their price objective on Cargojet from C$160.00 to C$165.00 in a research note on Wednesday. Acumen Capital raised their target price on shares of Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. Finally, National Bankshares boosted their price objective on shares of Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cargojet currently has an average rating of “Moderate Buy” and an average target price of C$159.00.

Cargojet Price Performance

TSE CJT traded up C$2.16 on Wednesday, reaching C$131.89. 40,939 shares of the company’s stock traded hands, compared to its average volume of 55,063. The stock has a market cap of C$2.13 billion, a PE ratio of -138.83 and a beta of 0.91. The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79. Cargojet has a 12 month low of C$82.22 and a 12 month high of C$144.97. The stock has a 50-day simple moving average of C$133.49 and a 200 day simple moving average of C$126.86.

Cargojet (TSE:CJT) last issued its earnings results on Tuesday, August 13th. The company reported C($0.05) EPS for the quarter, missing analysts’ consensus estimates of C$1.10 by C($1.15). Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. The business had revenue of C$230.80 million during the quarter, compared to analysts’ expectations of C$239.77 million. As a group, research analysts predict that Cargojet will post 5.890933 earnings per share for the current year.

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.