Cargojet (TSE:CJT) Hits New 1-Year Low on Analyst Downgrade

Cargojet Inc. (TSE:CJT) shares reached a new 52-week low on Thursday after TD Securities lowered their price target on the stock from C$160.00 to C$120.00. TD Securities currently has a buy rating on the stock. Cargojet traded as low as C$67.84 and last traded at C$69.16, with a volume of 737037 shares traded. The stock had previously closed at C$80.32.

A number of other equities analysts have also commented on the company. Raymond James Financial set a C$132.00 price target on Cargojet and gave the stock an “outperform” rating in a report on Friday, September 5th. Scotiabank dropped their target price on shares of Cargojet from C$140.00 to C$135.00 in a research report on Friday, October 3rd. Stifel Nicolaus dropped their target price on Cargojet from C$130.00 to C$120.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Acumen Capital lowered their target price on shares of Cargojet from C$175.00 to C$170.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. Finally, ATB Capital decreased their target price on Cargojet from C$155.00 to C$145.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$137.54.

Cargojet Price Performance

The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69. The stock has a fifty day moving average of C$89.80 and a two-hundred day moving average of C$94.09. The stock has a market cap of C$1.08 billion, a price-to-earnings ratio of 8.81 and a beta of 0.85.

Cargojet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 19th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.0%. Cargojet’s dividend payout ratio (DPR) is 17.79%.

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.