Insider Selling: Cargojet Inc. (TSE:CJT) Senior Officer Sells 7,522 Shares of Stock

Cargojet Inc. (TSE:CJT) Senior Officer Ajay Kumar Virmani sold 7,522 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of C$140.60, for a total value of C$1,057,623.29.

Ajay Kumar Virmani also recently made the following trade(s):

• On Monday, June 24th, Ajay Kumar Virmani sold 950 shares of Cargojet stock. The stock was sold at an average price of C$133.25, for a total transaction of C$126,587.50.

Cargojet Stock Down 0.6 %

CJT opened at C$139.07 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.96 and a debt-to-equity ratio of 85.77. The stock has a market cap of C$2.29 billion, a price-to-earnings ratio of 59.43 and a beta of 1.00. The company’s 50-day moving average price is C$122.42 and its two-hundred day moving average price is C$117.68. Cargojet Inc. has a twelve month low of C$76.50 and a twelve month high of C$143.64.

Cargojet (TSE:CJT) last posted its quarterly earnings results on Monday, April 29th. The company reported C$1.86 earnings per share for the quarter, topping the consensus estimate of C$0.71 by C$1.15. Cargojet had a return on equity of 4.78% and a net margin of 4.48%. The company had revenue of C$231.20 million during the quarter, compared to the consensus estimate of C$233.80 million. As a group, equities analysts expect that Cargojet Inc. will post 4.4768237 earnings per share for the current year.

Cargojet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, July 5th will be paid 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 dividend yield of 0.91%. Cargojet’s payout ratio is 53.85%.

Analyst Ratings Changes

A number of brokerages have weighed in on CJT. Royal Bank of Canada lowered their price target on Cargojet from C$184.00 to C$182.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 14th. Canaccord Genuity Group lifted their price target on Cargojet from C$145.00 to C$148.00 in a research note on Wednesday, April 24th. Acumen Capital upped their price target on shares of Cargojet from C$165.00 to C$175.00 and gave the stock a “buy” rating in a report on Wednesday. TD Securities raised their price objective on Cargojet from C$162.00 to C$173.00 in a research report on Wednesday, June 12th. Finally, National Bankshares upgraded Cargojet from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$132.00 to C$154.00 in a report on Friday, June 14th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$155.36.

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.