Cargojet (TSE:CJT) Given New C$177.00 Price Target at CIBC

Cargojet (TSE:CJT) had its target price upped by CIBC from C$172.00 to C$177.00 in a report released on Wednesday,BayStreet.CA reports.

A number of other research analysts also recently commented on CJT. Cormark upped their price objective on Cargojet from C$135.00 to C$140.00 in a research note on Thursday, August 15th. Canaccord Genuity Group upped their price target on shares of Cargojet from C$160.00 to C$165.00 in a research report on Wednesday, November 6th. ATB Capital cut their price objective on shares of Cargojet from C$165.00 to C$155.00 in a research report on Wednesday, November 6th. TD Securities reduced their target price on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Finally, National Bankshares lifted their price target on Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cargojet presently has an average rating of “Moderate Buy” and a consensus price target of C$159.27.

Cargojet Stock Performance

Shares of CJT stock opened at C$118.03 on Wednesday. The company has a market cap of C$1.91 billion, a P/E ratio of -124.24 and a beta of 0.91. The business has a 50 day moving average of C$132.00 and a two-hundred day moving average of C$128.28. Cargojet has a 52 week low of C$102.41 and a 52 week high of C$144.97. The company has a quick ratio of 0.79, a current ratio of 0.59 and a debt-to-equity ratio of 99.84.

Cargojet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, October 4th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.19%. This is an increase from Cargojet’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, September 20th. Cargojet’s dividend payout ratio is -147.37%.

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.