Cargojet (TSE:CJT) Stock Crosses Below 200-Day Moving Average – Here’s Why

Cargojet Inc. (TSE:CJT)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$126.47 and traded as low as C$110.65. Cargojet shares last traded at C$113.54, with a volume of 82,958 shares traded.

Analyst Ratings Changes

CJT has been the subject of several analyst reports. CIBC boosted their target price on shares of Cargojet from C$172.00 to C$177.00 in a research note on Wednesday, December 4th. TD Securities reduced their price objective on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. National Bankshares raised their target price on shares of Cargojet from C$154.00 to C$158.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Canaccord Genuity Group boosted their price target on Cargojet from C$160.00 to C$165.00 in a report on Wednesday, November 6th. Finally, ATB Capital decreased their price objective on Cargojet from C$165.00 to C$155.00 in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$159.27.

Cargojet Stock Up 2.7 %

The firm has a market capitalization of C$1.94 billion, a PE ratio of -126.32 and a beta of 0.91. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84. The firm has a 50-day moving average of C$116.24 and a two-hundred day moving average of C$126.17.

Cargojet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, January 3rd were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.17%. Cargojet’s dividend payout ratio (DPR) is -147.37%.

About Cargojet

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.