Canaccord Genuity Group Increases Cargojet (TSE:CJT) Price Target to C$156.00

Cargojet (TSE:CJT) had its target price hoisted by Canaccord Genuity Group from C$150.00 to C$156.00 in a research report released on Wednesday morning, BayStreet.CA reports.

CJT has been the subject of several other research reports. Royal Bank of Canada boosted their price target on Cargojet from C$182.00 to C$189.00 and gave the company an outperform rating in a research note on Monday, July 8th. Scotiabank downgraded Cargojet from a strong-buy rating to a hold rating in a report on Wednesday, July 10th. National Bank Financial upgraded Cargojet from a hold rating to a strong-buy rating in a report on Thursday, June 13th. National Bankshares upgraded shares of Cargojet from a sector perform rating to an outperform rating and raised their price objective for the stock from C$132.00 to C$154.00 in a research note on Friday, June 14th. Finally, TD Securities raised their price objective on shares of Cargojet from C$162.00 to C$173.00 in a research note on Wednesday, June 12th. Two research 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 stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of C$156.73.

Cargojet Trading Up 1.4 %

TSE:CJT opened at C$130.34 on Wednesday. The company has a debt-to-equity ratio of 85.77, a current ratio of 0.96 and a quick ratio of 0.79. Cargojet has a fifty-two week low of C$76.50 and a fifty-two week high of C$143.64. The stock’s 50-day moving average is C$126.39 and its two-hundred day moving average is C$119.56. The stock has a market cap of C$2.15 billion, a PE ratio of 55.70 and a beta of 1.00.

Cargojet (TSE:CJT) last announced its quarterly earnings results on Monday, April 29th. The company reported C$1.86 EPS for the quarter, beating the consensus estimate of C$0.71 by C$1.15. The business had revenue of C$231.20 million during the quarter, compared to analysts’ expectations of C$233.80 million. Cargojet had a return on equity of 4.78% and a net margin of 4.48%. As a group, equities research analysts forecast that Cargojet will post 4.4768237 earnings per share for the current fiscal year.

Cargojet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, July 5th were issued a dividend of $0.315 per share. The ex-dividend date was Thursday, June 20th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.97%. Cargojet’s payout ratio is presently 53.85%.

Insider Activity

In other news, Senior Officer Pauline Dhillon sold 7,607 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of C$118.50, for a total value of C$901,429.50. Following the completion of the sale, the insider now directly owns 445 shares in the company, valued at C$52,732.50. In related news, Senior Officer Pauline Dhillon sold 7,607 shares of Cargojet stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of C$118.50, for a total value of C$901,429.50. Following the completion of the sale, the insider now directly owns 445 shares in the company, valued at C$52,732.50. Also, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of C$140.60, for a total value of C$1,057,623.29. Over the last ninety days, insiders sold 18,979 shares of company stock worth $2,442,315. 2.71% of the stock is owned by corporate insiders.

About Cargojet

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.