Cormark Has Lowered Expectations for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its price objective dropped by Cormark from C$140.00 to C$120.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Cormark’s price target would indicate a potential upside of 11.64% from the stock’s current price.

A number of other analysts have also recently issued reports on CJT. TD Securities dropped their price objective on Cargojet from C$167.00 to C$165.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. CIBC increased their target price on shares of Cargojet from C$172.00 to C$177.00 in a research note on Wednesday, December 4th. Royal Bank of Canada boosted their price target on shares of Cargojet from C$189.00 to C$193.00 in a research report on Wednesday. Canaccord Genuity Group lifted their price objective on Cargojet from C$160.00 to C$165.00 in a research note on Wednesday, November 6th. Finally, ATB Capital lowered their price target on Cargojet from C$165.00 to C$155.00 in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$158.45.

Cargojet Stock Performance

Shares of CJT traded down C$3.90 on Wednesday, reaching C$107.49. 98,520 shares of the company’s stock traded hands, compared to its average volume of 90,010. The stock has a market cap of C$1.72 billion, a PE ratio of 754.37 and a beta of 0.91. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69. The stock’s 50 day simple moving average is C$112.99 and its two-hundred day simple moving average is C$123.51. Cargojet has a 52-week low of C$100.01 and a 52-week high of C$144.97.

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.