Royal Bank of Canada Increases Cargojet (TSE:CJT) Price Target to C$189.00

Cargojet (TSE:CJT) had its price target upped by research analysts at Royal Bank of Canada from C$182.00 to C$189.00 in a report issued on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 39.49% from the stock’s current price.

Other analysts have also recently issued reports about the company. TD Securities boosted their price target on Cargojet from C$162.00 to C$173.00 in a report on Wednesday, June 12th. National Bank Financial upgraded Cargojet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 13th. National Bankshares upgraded Cargojet from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$132.00 to C$154.00 in a report on Friday, June 14th. Acumen Capital boosted their price target on Cargojet from C$165.00 to C$175.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, CIBC boosted their price target on Cargojet from C$159.00 to C$172.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$156.00.

Cargojet Stock Down 1.0 %

Shares of TSE CJT opened at C$135.49 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.79 and a debt-to-equity ratio of 85.77. The company has a market cap of C$2.23 billion, a price-to-earnings ratio of 57.90 and a beta of 1.00. Cargojet has a 12 month low of C$76.50 and a 12 month high of C$143.64. The stock has a 50-day moving average price of C$123.57 and a two-hundred day moving average price of C$118.13.

Cargojet (TSE:CJT) last issued its earnings results on Monday, April 29th. The company reported C$1.86 EPS for the quarter, topping the consensus estimate of C$0.71 by C$1.15. The firm had revenue of C$231.20 million during the quarter, compared to the consensus estimate of C$233.80 million. Cargojet had a return on equity of 4.78% and a net margin of 4.48%. As a group, analysts forecast that Cargojet will post 4.4768237 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the company’s stock in a transaction that occurred 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. In other news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the company’s stock in a transaction that occurred 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. Also, Senior Officer Pauline Dhillon sold 7,607 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of C$118.50, for a total value of C$901,429.50. Following the transaction, the insider now directly owns 445 shares in the company, valued at C$52,732.50. In the last three months, insiders have sold 18,979 shares of company stock worth $2,442,315. Corporate insiders own 2.71% of the company’s stock.

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.