CIBC Issues Pessimistic Forecast for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its price target lowered by analysts at CIBC from C$163.00 to C$150.00 in a note issued to investors on Thursday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 101.86% from the stock’s current price.

Several other research analysts have also commented on CJT. National Bankshares lowered their price target on 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. Canaccord Genuity Group upped their price objective on Cargojet from C$165.00 to C$173.00 in a research report on Wednesday, February 19th. Royal Bank of Canada lifted their target price on Cargojet from C$189.00 to C$193.00 in a report on Wednesday, February 19th. Cormark cut their price target on Cargojet from C$140.00 to C$120.00 in a report on Wednesday, February 19th. Finally, Scotiabank decreased their price objective on Cargojet from C$165.00 to C$139.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$158.90.

Cargojet Trading Down 6.5 %

Shares of Cargojet stock traded down C$5.18 during mid-day trading on Thursday, hitting C$74.31. The stock had a trading volume of 38,046 shares, compared to its average volume of 101,956. Cargojet has a 12-month low of C$69.60 and a 12-month high of C$144.97. The firm has a market cap of C$1.19 billion, a P/E ratio of 521.51 and a beta of 0.91. The firm has a 50-day moving average of C$93.86 and a two-hundred day moving average of C$113.37. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69.

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.