CIBC Has Lowered Expectations for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT - Get Free Report) had its target price lowered by equities researchers at CIBC from C$177.00 to C$163.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC's price objective would indicate a potential upside of 60.84% from the stock's current price.

Several other equities research analysts have also commented on CJT. TD Securities decreased their price objective on shares of Cargojet from C$167.00 to C$165.00 and set a "buy" rating for the company in a research note on Thursday, November 21st. ATB Capital decreased their price objective on shares of Cargojet from C$165.00 to C$155.00 in a research note on Wednesday, November 6th. Royal Bank of Canada increased their price objective on shares of Cargojet from C$189.00 to C$193.00 in a research note on Wednesday. Cormark decreased their price objective on shares of Cargojet from C$140.00 to C$120.00 in a research note on Wednesday. Finally, Canaccord Genuity Group increased their target price on shares of Cargojet from C$160.00 to C$165.00 in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cargojet presently has a consensus rating of "Moderate Buy" and an average target price of C$158.45.

Cargojet Stock Down 3.6 %

TSE:CJT traded down C$3.74 on Wednesday, hitting C$101.34. The stock had a trading volume of 200,715 shares, compared to its average volume of 95,618. 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 stock has a market cap of C$1.62 billion, a P/E ratio of 711.21 and a beta of 0.91. Cargojet has a 1 year low of C$100.01 and a 1 year high of C$144.97. The firm's fifty day simple moving average is C$112.62 and its two-hundred day simple moving average is C$122.88.

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.