Scotiabank Cuts Cargojet (TSE:CJT) Price Target to C$165.00

Cargojet (TSE:CJT) had its price target trimmed by Scotiabank from C$170.00 to C$165.00 in a report published on Wednesday morning,BayStreet.CA reports.

CJT has been the topic of several other reports. ATB Capital cut their price target on shares of Cargojet from C$165.00 to C$155.00 in a research report on Wednesday, November 6th. CIBC boosted their price target on Cargojet from C$172.00 to C$177.00 in a research report on Wednesday, December 4th. Canaccord Genuity Group increased their price objective on Cargojet from C$160.00 to C$165.00 in a report on Wednesday, November 6th. National Bankshares decreased their target price on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Finally, TD Securities lowered their price target on Cargojet from C$167.00 to C$165.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Two equities research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$158.45.

Cargojet Trading Down 3.6 %

CJT opened at C$101.34 on Wednesday. The stock has a market capitalization of C$1.62 billion, a P/E ratio of 711.21 and a beta of 0.91. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69. Cargojet has a 12 month low of C$100.01 and a 12 month high of C$144.97. The firm’s fifty day simple moving average is C$112.62 and its 200 day simple moving average is C$122.88.

Cargojet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 20th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.38%. Cargojet’s dividend payout ratio is presently 982.53%.

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.