TD Securities Cuts Cargojet (TSE:CJT) Price Target to C$150.00

Cargojet (TSE:CJT - Free Report) had its price objective reduced by TD Securities from C$165.00 to C$150.00 in a report issued on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research analysts also recently issued reports on CJT. BMO Capital Markets cut their price objective on Cargojet from C$120.00 to C$95.00 in a research report on Tuesday. Scotiabank cut their price target on Cargojet from C$165.00 to C$139.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Canaccord Genuity Group increased their price objective on Cargojet from C$165.00 to C$173.00 in a research note on Wednesday, February 19th. Royal Bank of Canada boosted their target price on shares of Cargojet from C$189.00 to C$193.00 in a research note on Wednesday, February 19th. Finally, Cormark decreased their price target on shares of Cargojet from C$140.00 to C$120.00 in a research note on Wednesday, February 19th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of C$151.73.

Cargojet Price Performance

TSE:CJT traded down C$1.51 during mid-day trading on Tuesday, hitting C$75.43. 70,929 shares of the company's stock traded hands, compared to its average volume of 99,851. 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 company has a market cap of C$1.21 billion, a PE ratio of 529.37 and a beta of 0.91. The firm's 50 day simple moving average is C$89.53 and its 200 day simple moving average is C$111.14. Cargojet has a 1 year low of C$69.60 and a 1 year high of C$144.97.

Cargojet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, April 4th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, March 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.86%. Cargojet's payout ratio is 982.53%.

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.