Royal Bank of Canada Issues Pessimistic Forecast for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT - Get Free Report) had its price target lowered by analysts at Royal Bank of Canada from C$193.00 to C$183.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank of Canada's price target suggests a potential upside of 146.33% from the company's previous close.

Several other equities analysts also recently commented on the company. Cormark cut their target price on Cargojet from C$140.00 to C$120.00 in a research report on Wednesday, February 19th. Scotiabank lowered their price target on shares of Cargojet from C$165.00 to C$139.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. National Bankshares cut their target price on shares of Cargojet from C$158.00 to C$151.00 and set an "outperform" rating on the stock in a research report on Thursday, January 30th. Canaccord Genuity Group raised their target price on Cargojet from C$165.00 to C$173.00 in a report on Wednesday, February 19th. Finally, TD Securities decreased their price target on shares of Cargojet from C$165.00 to C$150.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cargojet presently has an average rating of "Buy" and a consensus target price of C$150.82.

Cargojet Stock Performance

CJT stock traded down C$0.74 during midday trading on Tuesday, hitting C$74.29. The stock had a trading volume of 27,217 shares, compared to its average volume of 98,398. Cargojet has a 52 week low of C$69.60 and a 52 week high of C$144.97. The firm has a market capitalization of C$1.19 billion, a price-to-earnings ratio of 521.37 and a beta of 0.91. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69. The stock has a 50-day simple moving average of C$88.12 and a 200 day simple moving average of C$110.29.

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.

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