Cargojet (TSE:CJT) Stock Passes Above 200 Day Moving Average of $122.00

Cargojet Inc. (TSE:CJT - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$122.00 and traded as high as C$133.61. Cargojet shares last traded at C$131.57, with a volume of 33,170 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CJT shares. Scotiabank downgraded shares of Cargojet from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 10th. ATB Capital upped their target price on shares of Cargojet from C$160.00 to C$165.00 in a report on Thursday, August 15th. CIBC lifted their price target on Cargojet from C$159.00 to C$172.00 and gave the company an "outperform" rating in a research note on Monday, June 17th. National Bankshares raised Cargojet from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from C$132.00 to C$154.00 in a report on Friday, June 14th. Finally, Acumen Capital raised their target price on Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Cargojet has a consensus rating of "Moderate Buy" and a consensus price target of C$159.55.

Cargojet Stock Up 5.4 %

The stock has a fifty day moving average of C$127.25 and a 200 day moving average of C$122.00. The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79. The firm has a market capitalization of C$2.24 billion, a P/E ratio of -137.05 and a beta of 0.91.

Cargojet (TSE:CJT - Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported C($0.05) EPS for the quarter, missing analysts' consensus estimates of C$1.10 by C($1.15). The business 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%. On average, research analysts anticipate that Cargojet Inc. will post 5.886132 EPS for the current fiscal year.

Cargojet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, October 4th will be given a dividend of $0.35 per share. This is an increase from Cargojet's previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, September 20th. Cargojet's dividend payout ratio is currently -145.83%.

Insider Buying and Selling

In other Cargojet news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of C$140.60, for a total transaction of C$1,057,623.29. 2.65% of the stock is currently owned by insiders.

Cargojet Company Profile

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.