Cargojet (TSE:CJT) Given New C$173.00 Price Target at Canaccord Genuity Group

Cargojet (TSE:CJT - Free Report) had its price objective boosted by Canaccord Genuity Group from C$165.00 to C$173.00 in a research report released on Wednesday,BayStreet.CA reports.

Several other research firms have also commented on CJT. Royal Bank of Canada increased their price objective on shares of Cargojet from C$189.00 to C$193.00 in a research report on Wednesday. CIBC lowered their price objective on shares of Cargojet from C$177.00 to C$163.00 in a research report on Wednesday. Cormark reduced their target price on shares of Cargojet from C$140.00 to C$120.00 in a research note on Wednesday. Canaccord Genuity Group increased their target price on shares of Cargojet from C$160.00 to C$165.00 in a research note on Wednesday, November 6th. Finally, TD Securities reduced their target price on shares of Cargojet from C$167.00 to C$165.00 and set a "buy" rating on the stock in a research note on Thursday, November 21st. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Cargojet has a consensus rating of "Moderate Buy" and an average price target of C$158.45.

Cargojet Price Performance

CJT stock traded down C$3.74 during trading on Wednesday, hitting C$101.34. 200,715 shares of the company's stock traded hands, compared to its average volume of 95,618. Cargojet has a 52 week low of C$100.01 and a 52 week high of C$144.97. The company has a debt-to-equity ratio of 98.69, a quick ratio of 0.79 and a current ratio of 0.56. The business has a fifty day simple moving average of C$112.62 and a 200 day simple moving average of C$122.88. The stock has a market capitalization of C$1.62 billion, a price-to-earnings ratio of 711.21 and a beta of 0.91.

Cargojet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Thursday, March 20th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.38%. Cargojet's dividend payout ratio is presently 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.