CIBC Has Lowered Expectations for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its price objective decreased by equities research analysts at CIBC from C$177.00 to C$163.00 in a research note issued on Wednesday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 55.12% from the stock’s previous close.

A number of other research firms have also recently commented on CJT. Scotiabank decreased their target price on shares of Cargojet from C$170.00 to C$165.00 in a research report on Wednesday. TD Securities lowered their price objective on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Royal Bank of Canada lifted their target price on shares of Cargojet from C$189.00 to C$193.00 in a report on Wednesday. Cormark lowered their price target on Cargojet from C$140.00 to C$120.00 in a research report on Wednesday. Finally, Canaccord Genuity Group lifted their price objective on Cargojet from C$160.00 to C$165.00 in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cargojet has an average rating of “Moderate Buy” and a consensus target price of C$158.45.

Cargojet Price Performance

CJT stock opened at C$105.08 on Wednesday. Cargojet has a 52-week low of C$100.01 and a 52-week high of C$144.97. The business has a fifty day moving average of C$112.76 and a two-hundred day moving average of C$123.05. The stock 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.

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.