CIBC Cuts Cargojet (TSE:CJT) Price Target to C$163.00

Cargojet (TSE:CJT) had its target price trimmed by CIBC from C$177.00 to C$163.00 in a research note issued to investors on Wednesday,BayStreet.CA reports.

A number of other brokerages have also recently weighed in on CJT. Cormark cut their price objective on shares of Cargojet from C$140.00 to C$120.00 in a research note on Wednesday. National Bankshares lowered their target price on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. ATB Capital reduced their price target on shares of Cargojet from C$165.00 to C$155.00 in a research note on Wednesday, November 6th. Scotiabank lowered their price objective on shares of Cargojet from C$170.00 to C$165.00 in a research note on Wednesday. Finally, TD Securities dropped their price target on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$158.45.

Cargojet Stock Performance

Shares of TSE CJT opened at C$101.34 on Wednesday. Cargojet has a 12-month low of C$100.01 and a 12-month high of C$144.97. The company has a market cap of C$1.62 billion, a PE ratio of 711.21 and a beta of 0.91. The stock has a 50 day simple moving average of C$112.62 and a 200-day simple moving average of C$122.88. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69.

Cargojet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.38%. Cargojet’s dividend payout ratio (DPR) is currently 982.53%.

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.