CIBC Has Lowered Expectations for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its target price reduced by stock analysts at CIBC from C$177.00 to C$163.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 51.64% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Canaccord Genuity Group boosted their price target on shares of Cargojet from C$160.00 to C$165.00 in a report on Wednesday, November 6th. Royal Bank of Canada upped their price target on shares of Cargojet from C$189.00 to C$193.00 in a research report on Wednesday. Cormark cut their price objective on Cargojet from C$140.00 to C$120.00 in a research note on Wednesday. National Bankshares reduced their target price on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Finally, Scotiabank reduced their price target on shares of Cargojet from C$170.00 to C$165.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cargojet presently has a consensus rating of “Moderate Buy” and a consensus price target of C$158.45.

Cargojet Stock Performance

Shares of TSE CJT traded down C$3.90 during mid-day trading on Wednesday, hitting C$107.49. The stock had a trading volume of 98,520 shares, compared to its average volume of 90,010. The company has a 50 day moving average of C$112.99 and a two-hundred day moving average of C$123.51. The firm has a market cap of C$1.72 billion, a PE ratio of 754.37 and a beta of 0.91. Cargojet has a twelve month low of C$100.01 and a twelve month high of C$144.97. The company has a debt-to-equity ratio of 98.69, a quick ratio of 0.79 and a current ratio of 0.56.

Cargojet Company Profile

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.