Cargojet (TSE:CJT) Price Target Raised to C$173.00

Cargojet (TSE:CJT) had its price target raised by Canaccord Genuity Group from C$165.00 to C$173.00 in a research note issued to investors on Wednesday,BayStreet.CA reports.

A number of other brokerages have also recently issued reports on CJT. Royal Bank of Canada boosted their price objective on Cargojet from C$189.00 to C$193.00 in a report on Wednesday. Canaccord Genuity Group increased their price objective on Cargojet from C$160.00 to C$165.00 in a research report on Wednesday, November 6th. Scotiabank reduced their target price on shares of Cargojet from C$170.00 to C$165.00 in a research report on Wednesday. TD Securities decreased their price target on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Finally, ATB Capital dropped their price objective on shares of Cargojet from C$165.00 to C$155.00 in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$158.45.

Cargojet Stock Performance

Shares of TSE CJT opened at C$101.34 on Wednesday. Cargojet has a 12 month low of C$100.01 and a 12 month high of C$144.97. The company has a market capitalization of C$1.62 billion, a P/E ratio of 711.21 and a beta of 0.91. The stock has a 50 day moving average of C$112.62 and a 200-day moving average of C$122.88. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69.

Cargojet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 20th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.38%. Cargojet’s dividend payout ratio is currently 982.53%.

About Cargojet

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.