BMO Capital Markets Forecasts Strong Price Appreciation for Cargojet (TSE:CJT) Stock

Cargojet (TSE:CJT) had its target price boosted by stock analysts at BMO Capital Markets from C$90.00 to C$94.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential downside of 4.97% from the company’s current price.

Several other equities research analysts have also recently weighed in on CJT. Scotiabank increased their price target on Cargojet from C$115.00 to C$118.00 and gave the company an “outperform” rating in a research note on Thursday. TD Securities dropped their target price on shares of Cargojet from C$160.00 to C$120.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Raymond James Financial boosted their price objective on Cargojet from C$95.00 to C$120.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Desjardins increased their price target on Cargojet from C$117.00 to C$126.00 in a report on Thursday. Finally, National Bank Financial boosted their target price on shares of Cargojet from C$95.00 to C$108.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Cargojet has a consensus rating of “Moderate Buy” and a consensus target price of C$125.45.

Cargojet Price Performance

Shares of TSE CJT traded up C$6.54 during mid-day trading on Thursday, hitting C$98.92. 213,616 shares of the stock traded hands, compared to its average volume of 121,744. The company has a market cap of C$1.49 billion, a PE ratio of 12.57 and a beta of 0.82. Cargojet has a twelve month low of C$65.60 and a twelve month high of C$113.89. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79. The firm has a 50 day simple moving average of C$91.01 and a two-hundred day simple moving average of C$88.91.

Cargojet (TSE:CJT) last released its quarterly earnings results on Tuesday, February 24th. The company reported C$1.47 earnings per share for the quarter. Cargojet had a return on equity of 0.31% and a net margin of 0.25%.The company had revenue of C$284.70 million for the quarter. As a group, equities research analysts forecast that Cargojet will post 5.890933 EPS for the current fiscal year.

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.