Analysts Set Cargojet Inc. (TSE:CJT) PT at C$159.55

Cargojet Inc. (TSE:CJT) has received an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is C$159.55.

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada lifted their target price on Cargojet from C$182.00 to C$189.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Scotiabank downgraded Cargojet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Cormark lifted their target price on Cargojet from C$135.00 to C$140.00 in a research report on Thursday, August 15th. National Bankshares raised Cargojet from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$132.00 to C$154.00 in a research report on Friday, June 14th. Finally, CIBC lifted their target price on Cargojet from C$159.00 to C$172.00 and gave the stock an “outperform” rating in a research report on Monday, June 17th.

Cargojet Trading Up 0.1 %

Shares of TSE:CJT opened at C$129.28 on Friday. The company has a market cap of C$2.09 billion, a P/E ratio of -134.67 and a beta of 0.90. The stock’s 50-day moving average is C$129.35 and its 200-day moving average is C$120.19. Cargojet has a 52-week low of C$76.50 and a 52-week high of C$143.64. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.79 and a current ratio of 0.59.

Cargojet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.08%. This is a boost from Cargojet’s previous quarterly dividend of $0.32. Cargojet’s payout ratio is -145.83%.

Insider Activity

In other news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of Cargojet stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of C$140.60, for a total value of C$1,057,623.29. In related news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of C$140.60, for a total value of C$1,057,623.29. Also, Senior Officer Paul David Rinaldo sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of C$133.25, for a total transaction of C$199,875.00. Over the last 90 days, insiders sold 11,372 shares of company stock worth $1,540,886. Insiders own 2.65% of the company’s stock.

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.