Cargojet (TSE:CJT) Shares Pass Below 200 Day Moving Average – Time to Sell?

Cargojet Inc. (TSE:CJT) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$126.47 and traded as low as C$110.65. Cargojet shares last traded at C$113.54, with a volume of 82,958 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CJT shares. Canaccord Genuity Group raised their price target on shares of Cargojet from C$160.00 to C$165.00 in a research note on Wednesday, November 6th. CIBC lifted their price target on shares of Cargojet from C$172.00 to C$177.00 in a research note on Wednesday, December 4th. National Bankshares increased their price objective on shares of Cargojet from C$154.00 to C$158.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. TD Securities lowered their target price on 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. Finally, ATB Capital reduced their price target on Cargojet from C$165.00 to C$155.00 in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$159.27.

Cargojet Stock Up 0.5 %

The firm has a market cap of C$1.83 billion, a price-to-earnings ratio of -119.52 and a beta of 0.91. The firm has a fifty day simple moving average of C$117.24 and a 200-day simple moving average of C$126.47. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.79 and a current ratio of 0.59.

Cargojet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, January 3rd were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, December 20th. Cargojet’s payout ratio is -147.37%.

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.