Scotiabank Cuts Cargojet (TSE:CJT) Price Target to C$139.00

Cargojet (TSE:CJT) had its target price cut by Scotiabank from C$165.00 to C$139.00 in a report released on Wednesday,BayStreet.CA reports. They currently have an outperform rating on the stock.

CJT has been the subject of a number of other research reports. Royal Bank of Canada boosted their price objective on shares of Cargojet from C$189.00 to C$193.00 in a research report on Wednesday, February 19th. CIBC dropped their price target on Cargojet from C$177.00 to C$163.00 in a research report on Wednesday, February 19th. National Bankshares cut their price target on Cargojet from C$158.00 to C$151.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Canaccord Genuity Group raised their target price on Cargojet from C$165.00 to C$173.00 in a research note on Wednesday, February 19th. Finally, Cormark lowered their price target on shares of Cargojet from C$140.00 to C$120.00 in a research report on Wednesday, February 19th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$160.20.

Cargojet Stock Performance

Cargojet stock opened at C$74.48 on Wednesday. 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 has a 12 month low of C$72.66 and a 12 month high of C$144.97. The company has a fifty day moving average price of C$98.69 and a two-hundred day moving average price of C$115.33. The company has a market cap of C$1.19 billion, a PE ratio of 522.71 and a beta of 0.91.

Cargojet Dividend Announcement

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