Cargojet (TSE:CJT) Price Target Cut to C$170.00 by Analysts at Scotiabank

Cargojet (TSE:CJT) had its price target reduced by Scotiabank from C$174.00 to C$170.00 in a research note issued to investors on Monday,BayStreet.CA reports.

A number of other brokerages have also issued reports on CJT. TD Securities reduced their target price on Cargojet from C$167.00 to C$165.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. ATB Capital reduced their price objective on Cargojet from C$165.00 to C$155.00 in a research note on Wednesday, November 6th. Canaccord Genuity Group lifted their target price on Cargojet from C$160.00 to C$165.00 in a report on Wednesday, November 6th. CIBC increased their price target on shares of Cargojet from C$172.00 to C$177.00 in a report on Wednesday, December 4th. Finally, National Bankshares raised their price target on shares of Cargojet from C$154.00 to C$158.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cargojet presently has an average rating of “Moderate Buy” and a consensus target price of C$161.20.

Cargojet Trading Up 3.6 %

TSE CJT opened at C$127.00 on Monday. Cargojet has a 12-month low of C$100.01 and a 12-month high of C$144.97. The company has a fifty day simple moving average of C$115.39 and a two-hundred day simple moving average of C$125.89. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84. The stock has a market cap of C$2.05 billion, a P/E ratio of -133.68 and a beta of 0.91.

Cargojet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Friday, January 3rd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Friday, December 20th. Cargojet’s dividend payout ratio (DPR) is presently -147.37%.

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.