Scotiabank Issues Pessimistic Forecast for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its price objective reduced by Scotiabank from C$170.00 to C$165.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 57.02% from the stock’s previous close.

CJT has been the subject of several other reports. Canaccord Genuity Group increased their price objective on Cargojet from C$160.00 to C$165.00 in a research note on Wednesday, November 6th. National Bankshares reduced their price objective on Cargojet from C$158.00 to C$151.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. TD Securities reduced their price objective on 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. CIBC increased their price objective on Cargojet from C$172.00 to C$177.00 in a research note on Wednesday, December 4th. Finally, ATB Capital reduced their price objective on Cargojet from C$165.00 to C$155.00 in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cargojet currently has a consensus rating of “Moderate Buy” and an average price target of C$158.45.

Cargojet Trading Down 2.2 %

Shares of TSE CJT opened at C$105.08 on Wednesday. Cargojet has a 12 month low of C$100.01 and a 12 month high of C$144.97. The company has a market cap of C$1.68 billion, a price-to-earnings ratio of 737.46 and a beta of 0.91. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69. The business has a fifty day simple moving average of C$112.76 and a 200-day simple moving average of C$123.05.

Cargojet Company Profile

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.