Cargojet’s (CJT) Outperform Rating Reiterated at AltaCorp Capital

AltaCorp Capital reiterated their outperform rating on shares of Cargojet (TSE:CJT) in a research note issued to investors on Sunday, reports.

A number of other research firms have also recently issued reports on CJT. Royal Bank of Canada decreased their price target on shares of Cargojet from C$136.00 to C$126.00 and set an outperform rating for the company in a report on Tuesday, November 5th. CIBC raised their price target on shares of Cargojet from C$115.00 to C$120.00 in a report on Tuesday, November 5th. Finally, Raymond James reaffirmed a market perform rating and issued a C$95.00 price target on shares of Cargojet in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Cargojet has an average rating of Hold and an average target price of C$110.50.

TSE:CJT opened at C$109.78 on Friday. Cargojet has a 52 week low of C$72.13 and a 52 week high of C$110.54. The firm has a 50 day moving average of C$103.03 and a 200 day moving average of C$96.97. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 425.06. The stock has a market capitalization of $1.48 billion and a price-to-earnings ratio of 66.13.

Cargojet (TSE:CJT) last posted its earnings results on Monday, November 4th. The company reported C$0.26 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.12 by C$0.14. The firm had revenue of C$117.40 million for the quarter, compared to analysts’ expectations of C$122.20 million. As a group, analysts expect that Cargojet will post 1.7300001 EPS for the current year.

In related news, Director Jamie Bennett Porteous sold 1,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of C$102.45, for a total transaction of C$102,450.00. Following the completion of the transaction, the director now owns 2,335 shares of the company’s stock, valued at C$239,220.75.

Cargojet Company Profile

Cargojet Inc provides time sensitive overnight air cargo services in Canada. Its air cargo business activities include operation of domestic overnight air cargo co-load network between 14 cities in Canada; and provision of dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis operating between points in Canada, North and South America, and Europe.

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Analyst Recommendations for Cargojet (TSE:CJT)

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