TD Securities Lowers Cargojet (TSE:CJT) Price Target to C$165.00

Cargojet (TSE:CJT) had its target price lowered by TD Securities from C$167.00 to C$165.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently commented on CJT. Cormark raised their price objective on Cargojet from C$135.00 to C$140.00 in a report on Thursday, August 15th. National Bankshares raised their price objective on Cargojet from C$154.00 to C$158.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. ATB Capital cut their price objective on Cargojet from C$165.00 to C$155.00 in a report on Wednesday, November 6th. Canaccord Genuity Group raised their target price on Cargojet from C$160.00 to C$165.00 in a report on Wednesday, November 6th. Finally, Acumen Capital raised their target price on Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cargojet currently has a consensus rating of “Moderate Buy” and an average price target of C$158.82.

Cargojet Stock Performance

TSE CJT opened at C$122.56 on Thursday. The business’s 50-day moving average price is C$134.13 and its 200 day moving average price is C$128.29. Cargojet has a twelve month low of C$91.42 and a twelve month high of C$144.97. The company has a market capitalization of C$1.98 billion, a PE ratio of -128.40 and a beta of 0.91. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84.

Cargojet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, October 4th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Friday, September 20th. This is an increase from Cargojet’s previous quarterly dividend of $0.32. Cargojet’s payout ratio is currently -147.37%.

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.