Cargojet (TSE:CJT) Given New C$170.00 Price Target at Scotiabank

Cargojet (TSE:CJT) had its price target cut by Scotiabank from C$174.00 to C$170.00 in a research note published on Monday,BayStreet.CA reports.

A number of other brokerages have also weighed in on CJT. CIBC lifted their price objective on shares of Cargojet from C$172.00 to C$177.00 in a report on Wednesday, December 4th. TD Securities decreased their price target 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. National Bankshares boosted 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. Canaccord Genuity Group raised their price objective on Cargojet from C$160.00 to C$165.00 in a report on Wednesday, November 6th. Finally, ATB Capital dropped 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, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$161.20.

Cargojet Stock Performance

CJT stock opened at C$127.00 on Monday. Cargojet has a twelve month low of C$100.01 and a twelve month high of C$144.97. The firm has a market cap of C$2.05 billion, a price-to-earnings ratio of -133.68 and a beta of 0.91. The business’s fifty day simple moving average is C$115.39 and its two-hundred day simple moving average is C$125.89. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, January 3rd were issued a $0.35 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.40 dividend on an annualized basis and a yield of 1.10%. Cargojet’s dividend payout ratio is presently -147.37%.

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.