Cargojet (TSE:CJT) Given New C$175.00 Price Target at Acumen Capital

Cargojet (TSE:CJT) had its price objective increased by Acumen Capital from C$165.00 to C$175.00 in a research note published on Wednesday, BayStreet.CA reports. Acumen Capital currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada decreased their target price on shares of Cargojet from C$184.00 to C$182.00 and set an outperform rating on the stock in a research note on Tuesday, May 14th. Scotiabank upgraded shares of Cargojet from a hold rating to a strong-buy rating in a report on Friday, June 14th. TD Securities upped their price target on shares of Cargojet from C$162.00 to C$173.00 in a report on Wednesday, June 12th. National Bank Financial upgraded shares of Cargojet from a hold rating to a strong-buy rating in a report on Thursday, June 13th. Finally, CIBC upped their price target on shares of Cargojet from C$159.00 to C$172.00 and gave the stock an outperform rating in a report on Monday, June 17th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Cargojet presently has a consensus rating of Buy and a consensus target price of C$155.36.

Cargojet Stock Performance

Shares of TSE:CJT opened at C$139.96 on Wednesday. The company’s 50 day simple moving average is C$121.92 and its 200 day simple moving average is C$117.53. The stock has a market capitalization of C$2.31 billion, a price-to-earnings ratio of 59.81 and a beta of 1.00. The company has a debt-to-equity ratio of 85.77, a current ratio of 0.96 and a quick ratio of 0.79. Cargojet has a 1 year low of C$76.50 and a 1 year high of C$143.64.

Cargojet (TSE:CJT) last announced its quarterly earnings data on Monday, April 29th. The company reported C$1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.71 by C$1.15. The business had revenue of C$231.20 million for the quarter, compared to analysts’ expectations of C$233.80 million. Cargojet had a net margin of 4.48% and a return on equity of 4.78%. As a group, research analysts predict that Cargojet will post 4.4768237 EPS for the current fiscal year.

Cargojet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.315 per share. The ex-dividend date is Thursday, June 20th. This represents a $1.26 dividend on an annualized basis and a yield of 0.90%. Cargojet’s payout ratio is currently 53.85%.

Insiders Place Their Bets

In other Cargojet news, Senior Officer Ajay Kumar Virmani sold 950 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$133.25, for a total transaction of C$126,587.50. In other news, Senior Officer Pauline Dhillon sold 7,607 shares of the stock in a transaction dated 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 transaction, the insider now owns 445 shares of the company’s stock, valued at approximately C$52,732.50. Also, Senior Officer Ajay Kumar Virmani sold 950 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$133.25, for a total transaction of C$126,587.50. In the last ninety days, insiders sold 18,979 shares of company stock worth $2,442,315. Company insiders own 2.71% of the company’s stock.

Cargojet Company Profile

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.