Shares of Cargojet Inc. (TSE:CJT – Get Free Report) have received an average rating of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$159.55.
A number of brokerages recently weighed in on CJT. ATB Capital lifted their target price on Cargojet from C$160.00 to C$165.00 in a report on Thursday, August 15th. Acumen Capital boosted their price objective on Cargojet from C$175.00 to C$178.00 in a research note on Thursday, August 15th. TD Securities boosted their price objective on Cargojet from C$173.00 to C$176.00 in a research note on Thursday, August 15th. National Bankshares upgraded 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 research note on Friday, June 14th. Finally, Canaccord Genuity Group boosted their price objective on Cargojet from C$150.00 to C$156.00 in a research note on Wednesday, July 24th.
Read Our Latest Research Report on CJT
Insider Activity at Cargojet
Cargojet Price Performance
CJT stock opened at C$129.28 on Friday. Cargojet has a 52-week low of C$76.50 and a 52-week high of C$143.64. The stock’s fifty day simple moving average is C$129.35 and its 200-day simple moving average is C$120.19. The company has a quick ratio of 0.79, a current ratio of 0.59 and a debt-to-equity ratio of 99.84. The stock has a market capitalization of C$2.09 billion, a price-to-earnings ratio of -134.67 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 issued a $0.35 dividend. This is a positive change from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.08%. The ex-dividend date is Friday, September 20th. Cargojet’s payout ratio is currently -145.83%.
About Cargojet
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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