Cargojet (TSE:CJT) Upgraded at National Bank Financial

National Bank Financial upgraded shares of Cargojet (TSE:CJTFree Report) from a hold rating to a strong-buy rating in a research note published on Thursday morning, Zacks.com reports.

A number of other research firms have also recently commented on CJT. Canaccord Genuity Group raised their target price on shares of Cargojet from C$145.00 to C$148.00 in a research note on Wednesday, April 24th. National Bankshares raised shares of Cargojet from a sector perform rating to an outperform rating and increased their price objective for the company from C$132.00 to C$154.00 in a report on Friday. BMO Capital Markets increased their price objective on shares of Cargojet from C$110.00 to C$115.00 and gave the company a market perform rating in a report on Tuesday, February 27th. Scotiabank increased their price objective on shares of Cargojet from C$145.00 to C$160.00 and gave the company an outperform rating in a report on Tuesday, June 11th. Finally, Royal Bank of Canada cut their price objective on shares of Cargojet from C$184.00 to C$182.00 and set an outperform rating for the company in a report on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of C$153.27.

Get Our Latest Report on Cargojet

Cargojet Stock Performance

Cargojet has a one year low of C$76.50 and a one year high of C$128.45. The company has a market cap of C$2.10 billion, a PE ratio of 53.97 and a beta of 1.00. The business’s 50 day moving average price is C$115.91 and its 200 day moving average price is C$114.81. The company has a debt-to-equity ratio of 85.77, a quick ratio of 0.79 and a current ratio of 0.96.

Cargojet (TSE:CJTGet Free Report) last released its earnings results on Monday, April 29th. The company reported C$1.86 EPS for the quarter, topping analysts’ consensus estimates of C$0.71 by C$1.15. Cargojet had a net margin of 4.48% and a return on equity of 4.78%. The company had revenue of C$231.20 million for the quarter, compared to analysts’ expectations of C$233.80 million. Sell-side analysts forecast that Cargojet will post 4.4768237 EPS for the current year.

Cargojet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of ∞. The ex-dividend date of this dividend is Thursday, June 20th. Cargojet’s payout ratio is 53.85%.

Insiders Place Their Bets

In other news, Senior Officer Pauline Dhillon sold 7,607 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of C$118.50, for a total transaction 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 C$52,732.50. In other Cargojet news, Senior Officer Pauline Dhillon sold 7,607 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 445 shares in the company, valued at approximately C$52,732.50. Also, Director Arlene Dickinson sold 1,400 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of C$112.00, for a total transaction of C$156,800.00. 2.71% of the stock is owned by insiders.

Cargojet Company Profile

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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.

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Analyst Recommendations for Cargojet (TSE:CJT)

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