Acumen Capital Cuts Cargojet (TSE:CJT) Price Target to C$170.00

Cargojet (TSE:CJT) had its price target cut by Acumen Capital from C$175.00 to C$170.00 in a research report released on Monday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

CJT has been the subject of a number of other research reports. ATB Capital reduced their price objective on Cargojet from C$155.00 to C$145.00 and set an “outperform” rating for the company in a report on Friday, August 8th. BMO Capital Markets cut their price target on Cargojet from C$120.00 to C$95.00 in a research note on Tuesday, April 15th. Royal Bank Of Canada lowered their price objective on shares of Cargojet from C$183.00 to C$177.00 in a research report on Monday, April 28th. Stifel Nicolaus boosted their price objective on shares of Cargojet from C$125.00 to C$130.00 and gave the company a “buy” rating in a research report on Monday. Finally, Stifel Canada upgraded shares of Cargojet to a “strong-buy” rating in a research report on Wednesday, June 11th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cargojet presently has a consensus rating of “Buy” and a consensus price target of C$148.00.

Cargojet Trading Up 1.7%

Shares of TSE:CJT opened at C$104.99 on Monday. Cargojet has a 12-month low of C$69.60 and a 12-month high of C$144.97. The stock has a market cap of C$1.68 billion, a PE ratio of 736.83 and a beta of 0.91. The business has a 50 day moving average of C$99.36 and a 200-day moving average of C$94.86. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69.

Cargojet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 4th. Stockholders of record on Friday, July 4th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, June 20th. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. Cargojet’s dividend payout ratio is 982.53%.

About Cargojet

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.