Cargojet (TSE:CJT) Given New C$175.00 Price Target at Acumen Capital

Cargojet (TSE:CJT) had its price objective boosted by Acumen Capital from C$165.00 to C$175.00 in a report published on Wednesday, BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also commented on the company. National Bank Financial upgraded Cargojet from a hold rating to a strong-buy rating in a research report on Thursday, June 13th. CIBC upped their price objective on Cargojet from C$159.00 to C$172.00 and gave the stock an outperform rating in a report on Monday, June 17th. National Bankshares raised Cargojet from a sector perform rating to an outperform rating and upped their price objective for the stock from C$132.00 to C$154.00 in a report on Friday, June 14th. Canaccord Genuity Group upped their price objective on Cargojet from C$145.00 to C$148.00 in a report on Wednesday, April 24th. Finally, Scotiabank raised Cargojet from a hold rating to a strong-buy rating in a report on Friday, June 14th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of C$155.36.

Cargojet Stock Up 0.4 %

TSE CJT opened at C$139.96 on Wednesday. The firm has a market cap of C$2.31 billion, a PE ratio of 59.81 and a beta of 1.00. Cargojet has a one year low of C$76.50 and a one year high of C$143.64. The stock’s 50 day simple moving average is C$121.92 and its 200 day simple moving average is C$117.53. The company has a debt-to-equity ratio of 85.77, a current ratio of 0.96 and a quick ratio of 0.79.

Cargojet (TSE:CJT) last released its quarterly earnings results on Monday, April 29th. The company reported C$1.86 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 for the quarter, compared to analyst estimates of C$233.80 million. Cargojet had a return on equity of 4.78% and a net margin of 4.48%. As a group, sell-side analysts forecast that Cargojet will post 4.4768237 earnings per share for the current fiscal year.

Cargojet Dividend Announcement

The business 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 $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Thursday, June 20th. Cargojet’s dividend payout ratio (DPR) is currently 53.85%.

Insider Activity

In related news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of C$140.60, for a total transaction of C$1,057,623.29. In related news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of C$140.60, for a total transaction of C$1,057,623.29. Also, Senior Officer Pauline Dhillon sold 7,607 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of C$118.50, for a total value of C$901,429.50. Following the sale, the insider now directly owns 445 shares in the company, valued at approximately C$52,732.50. Insiders have sold a total of 18,979 shares of company stock valued at $2,442,315 in the last 90 days. 2.71% of the stock is owned by company insiders.

About Cargojet

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.