Cargojet (TSE:CJT) Hits New 12-Month Low After Analyst Downgrade

Cargojet Inc. (TSE:CJT) hit a new 52-week low on Thursday after Scotiabank lowered their price target on the stock from C$165.00 to C$139.00. Scotiabank currently has an outperform rating on the stock. Cargojet traded as low as C$79.63 and last traded at C$82.16, with a volume of 97234 shares changing hands. The stock had previously closed at C$81.63.

A number of other equities research analysts also recently weighed in on the company. Canaccord Genuity Group lifted their target price on Cargojet from C$165.00 to C$173.00 in a report on Wednesday, February 19th. Cormark decreased their price target on shares of Cargojet from C$140.00 to C$120.00 in a research note on Wednesday, February 19th. National Bankshares dropped their price objective on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. CIBC cut their price target on shares of Cargojet from C$177.00 to C$163.00 in a report on Wednesday, February 19th. Finally, Royal Bank of Canada lifted their price objective on shares of Cargojet from C$189.00 to C$193.00 in a research report on Wednesday, February 19th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cargojet currently has an average rating of “Buy” and a consensus target price of C$160.20.

Cargojet Stock Performance

The stock has a market capitalization of C$1.19 billion, a PE ratio of 522.71 and a beta of 0.91. The firm has a 50 day moving average price of C$98.69 and a 200-day moving average price of C$115.33. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69.

Cargojet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, April 4th were issued a $0.35 dividend. The ex-dividend date was Thursday, March 20th. This represents a $1.40 annualized dividend and a yield of 1.88%. Cargojet’s payout ratio is 982.53%.

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.