Cargojet (TSE:CJT) Stock Crosses Above 200 Day Moving Average of $116.41

Shares of Cargojet Inc. (TSE:CJT) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$116.41 and traded as high as C$135.05. Cargojet shares last traded at C$134.00, with a volume of 76,566 shares.

Wall Street Analysts Forecast Growth

CJT has been the subject of several recent research reports. ATB Capital boosted their price objective on Cargojet from C$155.00 to C$160.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Acumen Capital boosted their target price on shares of Cargojet from C$160.00 to C$165.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. TD Securities lifted their price target on Cargojet from C$162.00 to C$173.00 in a research note on Wednesday, June 12th. Royal Bank of Canada lowered their price objective on Cargojet from C$184.00 to C$182.00 and set an “outperform” rating for the company in a research note on Tuesday, May 14th. Finally, Cormark dropped their target price on Cargojet from C$121.00 to C$120.00 in a report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$154.45.

Cargojet Stock Up 1.0 %

The stock has a 50 day moving average price of C$118.67 and a 200 day moving average price of C$116.41. The company has a debt-to-equity ratio of 85.77, a quick ratio of 0.79 and a current ratio of 0.96. The company has a market capitalization of C$2.21 billion, a P/E ratio of 57.26 and a beta of 1.00.

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

Cargojet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.315 per share. The ex-dividend date is Thursday, June 20th. This represents a $1.26 annualized dividend and a dividend yield of 0.94%. Cargojet’s payout ratio is 53.85%.

Insider Transactions at Cargojet

In related news, 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. In related news, Director Arlene Dickinson sold 1,400 shares of Cargojet stock in a transaction on Friday, June 7th. The stock was sold at an average price of C$112.00, for a total transaction of C$156,800.00. Also, Senior Officer Paul David Rinaldo sold 1,500 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of C$133.25, for a total value of C$199,875.00. Insiders sold 10,507 shares of company stock worth $1,258,105 over the last quarter. Corporate insiders own 2.71% of the company’s stock.

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.