Cargojet (TSE:CJT) Stock Gets Price Target Increase from Raymond James Financial

Cargojet (TSE:CJT) had its price target hoisted by equities researchers at Raymond James Financial from C$120.00 to C$130.00 in a research note issued on Friday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial‘s target price would suggest a potential upside of 19.84% from the company’s current price.

Other equities analysts have also issued reports about the company. Acumen Capital increased their price target on Cargojet from C$115.00 to C$120.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Stifel Nicolaus boosted their price objective on Cargojet from C$125.00 to C$135.00 and gave the stock a “buy” rating in a research note on Friday. ATB Cormark Capital Markets upped their price objective on Cargojet from C$120.00 to C$135.00 and gave the company an “outperform” rating in a report on Friday. National Bank Financial set a C$112.00 target price on Cargojet and gave the company an “outperform” rating in a research note on Friday, October 2nd. Finally, Desjardins lifted their target price on Cargojet from C$135.00 to C$151.00 and gave the stock a “buy” rating in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$126.73.

Cargojet Price Performance

Shares of Cargojet stock traded down C$0.29 on Friday, hitting C$108.48. The company had a trading volume of 86,571 shares, compared to its average volume of 105,408. The business has a 50-day simple moving average of C$86.84 and a 200-day simple moving average of C$86.27. The company has a debt-to-equity ratio of 119.27, a current ratio of 0.83 and a quick ratio of 0.79. The company has a market cap of C$1.61 billion, a PE ratio of 35.11 and a beta of 0.72. Cargojet has a 52 week low of C$71.00 and a 52 week high of C$112.71.

Cargojet (TSE:CJT) last announced its earnings results on Wednesday, November 11th. The company reported C$1.21 EPS for the quarter. Cargojet had a return on equity of 6.30% and a net margin of 4.49%. The firm had revenue of C$286.50 million for the quarter. Research analysts expect that Cargojet will post 5.89 EPS for the current fiscal year.

About Cargojet

Cargojet is Canada’s leading provider of time-sensitive premium air cargo services to all major cities across North America, providing Dedicated, ACMI and International Charter services and carries over 25,000,000 pounds of cargo weekly. Cargojet operates its network with its own fleet of 41 aircraft.