Acumen Capital Increases Cargojet (TSE:CJT) Price Target to C$175.00

Cargojet (TSE:CJT) had its price target boosted by Acumen Capital from C$165.00 to C$175.00 in a report published on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other analysts also recently commented on CJT. Canaccord Genuity Group boosted their target price on shares of Cargojet from C$145.00 to C$148.00 in a report on Wednesday, April 24th. National Bankshares upgraded shares of Cargojet from a sector perform rating to an outperform rating and boosted their target price for the stock from C$132.00 to C$154.00 in a report on Friday, June 14th. CIBC boosted their target price on shares of Cargojet from C$159.00 to C$172.00 and gave the stock an outperform rating in a report on Monday, June 17th. National Bank Financial upgraded shares of Cargojet from a hold rating to a strong-buy rating in a report on Thursday, June 13th. Finally, Royal Bank of Canada dropped their target price on shares of Cargojet from C$184.00 to C$182.00 and set an outperform rating on the stock in a report on Tuesday, May 14th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Buy and an average price target of C$155.36.

Cargojet Stock Down 0.8 %

CJT stock opened at C$137.91 on Wednesday. Cargojet has a 52 week low of C$76.50 and a 52 week high of C$143.64. The company has a market capitalization of C$2.27 billion, a price-to-earnings ratio of 58.94 and a beta of 1.00. The firm’s 50-day moving average is C$122.83 and its two-hundred day moving average is C$117.84. The company has a current ratio of 0.96, a quick ratio of 0.79 and a debt-to-equity ratio of 85.77.

Cargojet (TSE:CJT) last released its quarterly earnings results on Monday, April 29th. The company reported C$1.86 EPS for the quarter, topping analysts’ consensus estimates of C$0.71 by C$1.15. Cargojet had a net margin of 4.48% and a return on equity of 4.78%. The company had revenue of C$231.20 million for the quarter, compared to the consensus estimate of C$233.80 million. On average, analysts forecast that Cargojet will post 4.4768237 earnings per share for the current fiscal year.

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 was Thursday, June 20th. This represents a $1.26 annualized dividend and a dividend yield of 0.91%. Cargojet’s dividend payout ratio (DPR) is presently 53.85%.

Insider Activity at Cargojet

In other Cargojet news, Senior Officer Ajay Kumar Virmani sold 950 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$133.25, for a total value of C$126,587.50. In other Cargojet news, Senior Officer Pauline Dhillon sold 7,607 shares of the company’s stock in a transaction that occurred 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 950 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$133.25, for a total transaction of C$126,587.50. In the last 90 days, insiders sold 18,979 shares of company stock worth $2,442,315. 2.71% of the stock is owned by corporate insiders.

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.