Cargojet (OTCMKTS:CGJTF) Shares Gap Down – Time to Sell?

Cargojet Inc. (OTCMKTS:CGJTF)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $70.90, but opened at $65.76. Cargojet shares last traded at $65.76, with a volume of 100 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CGJTF. BMO Capital Markets reiterated a “market perform” rating on shares of Cargojet in a research report on Thursday, January 15th. Scotiabank reaffirmed an “outperform” rating on shares of Cargojet in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Cargojet currently has a consensus rating of “Moderate Buy”.

Cargojet Stock Down 2.3%

The company’s 50 day moving average is $67.10 and its 200 day moving average is $64.40.

Cargojet (OTCMKTS:CGJTF) last issued its earnings results on Tuesday, February 24th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.32. The company had revenue of $207.32 million during the quarter, compared to analysts’ expectations of $251.30 million.

Cargojet Company Profile

Cargojet Inc is a Canadian-based air cargo carrier specializing in time-sensitive freight transportation. The company operates scheduled and on-demand cargo services throughout Canada and into international markets, providing next-flight-out and overnight delivery for a broad range of shippers. Cargojet’s fleet—anchored by Boeing 767-300ER freighters—is configured to handle standard palletized freight as well as specialized shipments such as temperature-controlled pharmaceuticals and high-value electronics.

Headquartered in Mississauga, Ontario, Cargojet serves major Canadian gateways including Toronto, Vancouver and Montreal, and extends its network into the United States, the Caribbean and select Latin American destinations.