Cargojet (TSE:CJT) Sets New 12-Month Low – Time to Sell?

Cargojet Inc. (TSE:CJT)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as C$87.52 and last traded at C$87.75, with a volume of 13179 shares. The stock had previously closed at C$91.24.

Analyst Ratings Changes

A number of research analysts have issued reports on CJT shares. Cormark reduced their price target on Cargojet from C$140.00 to C$120.00 in a research report on Wednesday, February 19th. Canaccord Genuity Group boosted their target price on shares of Cargojet from C$165.00 to C$173.00 in a research note on Wednesday, February 19th. Scotiabank cut their price objective on Cargojet from C$170.00 to C$165.00 in a report on Wednesday, February 19th. TD Securities reduced their price target on Cargojet from C$167.00 to C$165.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, Royal Bank of Canada raised their target price on Cargojet from C$189.00 to C$193.00 in a report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$162.80.

Cargojet Stock Performance

The stock’s 50 day simple moving average is C$110.61 and its two-hundred day simple moving average is C$120.99. The stock has a market cap of C$1.39 billion, a P/E ratio of 611.06 and a beta of 0.91. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79.

Cargojet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders 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 dividend yield of 1.61%. Cargojet’s dividend payout ratio (DPR) is presently 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.