Cargojet (TSE:CJT) Price Target Raised to C$172.00 at CIBC

Cargojet (TSE:CJT) had its target price lifted by CIBC from C$159.00 to C$172.00 in a report released on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently issued reports on CJT. Canaccord Genuity Group raised their target price on Cargojet from C$145.00 to C$148.00 in a report on Wednesday, April 24th. TD Securities boosted their price objective on shares of Cargojet from C$162.00 to C$173.00 in a report on Wednesday, June 12th. National Bank Financial upgraded shares of Cargojet from a hold rating to a strong-buy rating in a report on Thursday, June 13th. Royal Bank of Canada reduced their price target on shares of Cargojet from C$184.00 to C$182.00 and set an outperform rating on the stock in a research report on Tuesday, May 14th. Finally, Cormark lowered their price objective on shares of Cargojet from C$121.00 to C$120.00 in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus target price of C$154.45.

Cargojet Trading Up 2.9 %

CJT opened at C$131.41 on Monday. Cargojet has a 1-year low of C$76.50 and a 1-year high of C$131.64. The stock has a market capitalization of C$2.16 billion, a PE ratio of 56.16 and a beta of 1.00. 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 firm has a 50-day moving average price of C$116.23 and a two-hundred day moving average price of C$115.05.

Cargojet (TSE:CJT) last released its earnings results on Monday, April 29th. The company reported C$1.86 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.71 by C$1.15. The company 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, equities analysts anticipate that Cargojet will post 4.4768237 earnings per share for the current fiscal year.

Cargojet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, July 5th will be paid a $0.315 dividend. The ex-dividend date is Thursday, June 20th. This represents a $1.26 annualized dividend and a yield of 0.96%. Cargojet’s dividend payout ratio is 53.85%.

Insider Buying and Selling

In other news, Senior Officer Pauline Dhillon sold 7,607 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were 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 of the company’s stock, valued at C$52,732.50. In related news, Director Arlene Dickinson sold 1,400 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of C$112.00, for a total value of C$156,800.00. Also, Senior Officer Pauline Dhillon sold 7,607 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of C$118.50, for a total value of C$901,429.50. Following the completion of the transaction, the insider now directly owns 445 shares in the company, valued at C$52,732.50. 2.71% of the stock is owned by insiders.

Cargojet Company Profile

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.