Cargojet (TSE:CJT) Stock Price Passes Below 200-Day Moving Average - Should You Sell?

Cargojet Inc. (TSE:CJT - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$126.47 and traded as low as C$110.65. Cargojet shares last traded at C$113.54, with a volume of 82,958 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. National Bankshares boosted their target price on shares of Cargojet from C$154.00 to C$158.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. CIBC lifted their price objective on Cargojet from C$172.00 to C$177.00 in a report on Wednesday, December 4th. Canaccord Genuity Group increased their target price on Cargojet from C$160.00 to C$165.00 in a research report on Wednesday, November 6th. ATB Capital cut their price objective on shares of Cargojet from C$165.00 to C$155.00 in a research report on Wednesday, November 6th. Finally, TD Securities decreased 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 report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$159.27.

Cargojet Stock Up 2.9 %

The stock has a market capitalization of C$1.89 billion, a P/E ratio of -122.95 and a beta of 0.91. The stock has a 50 day moving average price of C$116.74 and a 200-day moving average price of C$126.38. The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79.

Cargojet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, January 3rd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, December 20th. Cargojet's dividend payout ratio is -147.37%.

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.