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Canaccord Genuity Group Boosts Cargojet (TSE:CJT) Price Target to C$160.00

Cargojet logo with Industrials background

Cargojet (TSE:CJT - Get Free Report) had its target price boosted by investment analysts at Canaccord Genuity Group from C$156.00 to C$160.00 in a research report issued on Wednesday, BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective points to a potential upside of 19.11% from the stock's current price.

Several other analysts have also weighed in on CJT. Acumen Capital upped their price objective on Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. TD Securities raised their price objective on shares of Cargojet from C$173.00 to C$176.00 in a research report on Thursday, August 15th. National Bankshares lifted their price objective on shares of Cargojet from C$154.00 to C$158.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Royal Bank of Canada increased their target price on shares of Cargojet from C$182.00 to C$189.00 and gave the company an "outperform" rating in a research note on Monday, July 8th. Finally, Scotiabank cut Cargojet from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$160.27.

View Our Latest Stock Report on CJT

Cargojet Price Performance

Cargojet stock traded down C$0.62 during trading hours on Wednesday, hitting C$134.33. 28,652 shares of the company traded hands, compared to its average volume of 54,797. The firm's 50-day simple moving average is C$131.14 and its two-hundred day simple moving average is C$125.36. The firm has a market cap of C$2.17 billion, a P/E ratio of -140.57 and a beta of 0.91. Cargojet has a 1-year low of C$76.50 and a 1-year high of C$143.64. The company has a quick ratio of 0.79, a current ratio of 0.59 and a debt-to-equity ratio of 99.84.

Cargojet (TSE:CJT - Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported C($0.05) EPS for the quarter, missing the consensus estimate of C$1.10 by C($1.15). The firm had revenue of C$230.80 million for the quarter, compared to the consensus estimate of C$239.77 million. Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. As a group, analysts forecast that Cargojet will post 5.890933 earnings per share for the current fiscal year.

About Cargojet

(Get Free Report)

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.

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