Cargojet (TSE:CJT) Price Target Lowered to C$120.00 at TD Securities

Cargojet (TSE:CJT) had its price target cut by TD Securities from C$160.00 to C$120.00 in a report issued on Thursday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities research analysts have also issued reports on the stock. Desjardins set a C$149.00 target price on shares of Cargojet and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Scotiabank lowered their price target on Cargojet from C$140.00 to C$135.00 in a research report on Friday, October 3rd. Stifel Nicolaus cut their price objective on Cargojet from C$130.00 to C$120.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Acumen Capital reduced their target price on Cargojet from C$175.00 to C$170.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Finally, CIBC dropped their price target on shares of Cargojet from C$142.00 to C$132.00 in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$137.54.

Cargojet Price Performance

TSE:CJT opened at C$67.59 on Thursday. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79. The company has a 50 day moving average price of C$90.43 and a 200-day moving average price of C$94.13. Cargojet has a 1-year low of C$67.50 and a 1-year high of C$139.54. The firm has a market cap of C$1.02 billion, a price-to-earnings ratio of 7.49 and a beta of 0.85.

Cargojet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 19th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.1%. Cargojet’s dividend payout ratio is presently 15.52%.

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.