Cargojet (TSE:CJT) PT Raised to C$178.00 at Acumen Capital

Cargojet (TSE:CJT) had its price target boosted by Acumen Capital from C$175.00 to C$178.00 in a research report sent to investors on Thursday, BayStreet.CA reports.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group boosted their target price on Cargojet from C$150.00 to C$156.00 in a research report on Wednesday, July 24th. Scotiabank cut shares of Cargojet from a strong-buy rating to a hold rating in a research report on Wednesday, July 10th. ATB Capital upped their target price on Cargojet from C$160.00 to C$165.00 in a research note on Thursday. National Bank Financial raised shares of Cargojet from a hold rating to a strong-buy rating in a research note on Thursday, June 13th. Finally, National Bankshares upgraded Cargojet from a sector perform rating to an outperform rating and raised their price objective for the stock from C$132.00 to C$154.00 in a report on Friday, June 14th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cargojet currently has a consensus rating of Moderate Buy and an average price target of C$159.55.

Cargojet Stock Performance

Cargojet stock opened at C$124.44 on Thursday. Cargojet has a twelve month low of C$76.50 and a twelve month high of C$143.64. The company has a quick ratio of 0.79, a current ratio of 0.96 and a debt-to-equity ratio of 85.77. The company’s 50-day moving average price is C$128.89 and its 200-day moving average price is C$119.84. The company has a market cap of C$2.05 billion, a PE ratio of 53.18 and a beta of 0.90.

Cargojet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Friday, September 20th. This is a positive change from Cargojet’s previous quarterly dividend of $0.32. Cargojet’s payout ratio is 53.85%.

Insider Activity at Cargojet

In other news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the business’s stock in a transaction dated 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. In related news, Senior Officer Paul David Rinaldo sold 1,500 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of C$133.25, for a total value of C$199,875.00. Also, Senior Officer Ajay Kumar Virmani sold 7,522 shares of Cargojet stock in a transaction dated Friday, June 28th. The stock was sold at an average price of C$140.60, for a total value of C$1,057,623.29. Insiders sold 18,979 shares of company stock valued at $2,442,315 over the last 90 days. Insiders own 2.65% of the company’s stock.

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.