Canaccord Genuity Group Raises Cargojet (TSE:CJT) Price Target to C$156.00

Cargojet (TSE:CJT) had its target price upped by Canaccord Genuity Group from C$150.00 to C$156.00 in a research note issued to investors on Wednesday, BayStreet.CA reports.

Other equities research analysts have also issued research reports about the company. CIBC increased their price target on Cargojet from C$159.00 to C$172.00 and gave the company an outperform rating in a research report on Monday, June 17th. National Bankshares raised Cargojet from a sector perform rating to an outperform rating and raised their target price for the stock from C$132.00 to C$154.00 in a research report on Friday, June 14th. TD Securities raised their target price on Cargojet from C$162.00 to C$173.00 in a research report on Wednesday, June 12th. Royal Bank of Canada raised their target price on Cargojet from C$182.00 to C$189.00 and gave the stock an outperform rating in a research report on Monday, July 8th. Finally, National Bank Financial raised Cargojet from a hold rating to a strong-buy rating in a research report on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of C$156.73.

Cargojet Price Performance

CJT stock opened at C$130.34 on Wednesday. The company has a debt-to-equity ratio of 85.77, a current ratio of 0.96 and a quick ratio of 0.79. The firm has a market capitalization of C$2.15 billion, a P/E ratio of 55.70 and a beta of 1.00. The business’s 50-day moving average is C$126.18 and its two-hundred day moving average is C$119.46. Cargojet has a 1 year low of C$76.50 and a 1 year high of C$143.64.

Cargojet (TSE:CJT) last posted its quarterly earnings results on Monday, April 29th. The company reported C$1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.71 by C$1.15. The company had revenue of C$231.20 million for the quarter, compared to analyst estimates of C$233.80 million. Cargojet had a return on equity of 4.78% and a net margin of 4.48%. Analysts anticipate that Cargojet will post 4.4768237 earnings per share for the current fiscal year.

Cargojet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, July 5th were paid a dividend of $0.315 per share. The ex-dividend date was Thursday, June 20th. This represents a $1.26 dividend on an annualized basis and a yield of 0.97%. Cargojet’s dividend payout ratio is presently 53.85%.

Insider Buying and Selling

In related news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the firm’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 Cargojet news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of Cargojet 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 value of C$1,057,623.29. Also, Senior Officer Paul David Rinaldo sold 1,500 shares of Cargojet stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of C$133.25, for a total value of C$199,875.00. Insiders have sold 18,979 shares of company stock worth $2,442,315 in the last quarter. 2.71% of the stock is owned by insiders.

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.