Cargojet (TSE:CJT) Stock Passes Below 200-Day Moving Average - Time to Sell?

Cargojet Inc. (TSE:CJT - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$128.01 and traded as low as C$109.97. Cargojet shares last traded at C$111.60, with a volume of 89,520 shares trading hands.

Wall Street Analysts Forecast Growth

CJT has been the subject of a number of research reports. Acumen Capital lifted their target price on shares of Cargojet from C$175.00 to C$178.00 in a research note on Thursday, August 15th. Canaccord Genuity Group raised their price objective on shares of Cargojet from C$160.00 to C$165.00 in a report on Wednesday, November 6th. CIBC raised their price target on Cargojet from C$172.00 to C$177.00 in a report on Wednesday, December 4th. National Bankshares upped their price objective on Cargojet from C$154.00 to C$158.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Finally, Cormark increased their target price on shares of Cargojet from C$135.00 to C$140.00 in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$159.27.

Cargojet Price Performance

The stock has a market capitalization of C$1.76 billion, a PE ratio of -117.47 and a beta of 0.91. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84. The firm's 50-day moving average price is C$128.69 and its 200-day moving average price is C$127.95.

Cargojet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of ∞. The ex-dividend date of this dividend is Friday, December 20th. Cargojet's payout ratio is -147.37%.

Cargojet Company Profile

Cargojet Inc provides time sensitive overnight air cargo services and carriers in Canada. It operates domestic air cargo network services between 16 Canadian cities; and provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis operating between points in Canada, North and South America, and Europe.