Cargojet (TSE:CJT) Given New C$120.00 Price Target at CIBC

Cargojet (TSE:CJT) had its price target upped by analysts at CIBC from C$115.00 to C$120.00 in a report issued on Tuesday, BayStreet.CA reports. CIBC’s price target suggests a potential upside of 17.95% from the stock’s current price.

CJT has been the subject of a number of other research reports. Laurentian cut shares of Cargojet from a “buy” rating to a “hold” rating and increased their target price for the stock from C$102.00 to C$108.00 in a report on Monday, August 26th. AltaCorp Capital increased their target price on shares of Cargojet from C$95.00 to C$110.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. National Bank Financial increased their target price on shares of Cargojet from C$94.00 to C$105.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Royal Bank of Canada dropped their target price on shares of Cargojet from C$136.00 to C$126.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Raymond James set a C$90.00 target price on shares of Cargojet and gave the stock a “market perform” rating in a report on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of C$110.50.

Shares of Cargojet stock opened at C$101.74 on Tuesday. The company has a market capitalization of $1.38 billion and a price-to-earnings ratio of 89.40. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 413.78. Cargojet has a 12-month low of C$65.25 and a 12-month high of C$109.00. The firm’s 50-day moving average price is C$95.66 and its two-hundred day moving average price is C$89.98.

In other news, Senior Officer Pauline Dhillon sold 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of C$103.23, for a total value of C$1,032,330.00. Following the completion of the transaction, the insider now owns 6,109 shares of the company’s stock, valued at C$630,650.40.

About Cargojet

Cargojet Inc provides time sensitive overnight air cargo services in Canada. Its air cargo business activities include operation of domestic overnight air cargo co-load network between 14 cities in Canada; and provision of dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis operating between points in Canada, North and South America, and Europe.

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Analyst Recommendations for Cargojet (TSE:CJT)

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