ATB Capital Raises Cargojet (TSE:CJT) Price Target to C$165.00

Cargojet (TSE:CJT) had its target price hoisted by ATB Capital from C$160.00 to C$165.00 in a research note released on Thursday morning, BayStreet.CA reports.

Several other research analysts have also recently weighed in on CJT. CIBC boosted their price target on Cargojet from C$159.00 to C$172.00 and gave the stock an outperform rating in a research note on Monday, June 17th. National Bank Financial raised Cargojet from a hold rating to a strong-buy rating in a research report on Thursday, June 13th. Cormark raised their price target on shares of Cargojet from C$135.00 to C$140.00 in a report on Thursday. Royal Bank of Canada boosted their price objective on shares of Cargojet from C$182.00 to C$189.00 and gave the company an outperform rating in a report on Monday, July 8th. Finally, TD Securities raised their target price on shares of Cargojet from C$173.00 to C$176.00 in a report on Thursday. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of C$159.55.

Cargojet Price Performance

Shares of TSE CJT opened at C$124.44 on Thursday. The firm has a market cap of C$2.05 billion, a P/E ratio of 53.18 and a beta of 0.90. Cargojet has a twelve month low of C$76.50 and a twelve month high of C$143.64. The company has a quick ratio of 0.79, a current ratio of 0.96 and a debt-to-equity ratio of 85.77. The company has a 50 day moving average of C$128.89 and a 200 day moving average of C$119.84.

Cargojet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be given a $0.35 dividend. The ex-dividend date is Friday, September 20th. This is an increase from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.13%. Cargojet’s dividend payout ratio (DPR) is presently 53.85%.

Insider Transactions at Cargojet

In related news, Senior Officer Pauline Dhillon sold 7,607 shares of Cargojet stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of C$118.50, for a total transaction of C$901,429.50. Following the transaction, 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 the stock in a transaction that occurred on Wednesday, May 22nd. The shares were 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 of the company’s stock, valued at approximately C$52,732.50. Also, Senior Officer Ajay Kumar Virmani sold 950 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$133.25, for a total transaction of C$126,587.50. Insiders have sold 18,979 shares of company stock worth $2,442,315 in the last 90 days. 2.65% of the stock is currently owned by 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.