Cargojet (OTCMKTS:CGJTF) Shares Gap Up – Here’s Why

Cargojet Inc. (OTCMKTS:CGJTF)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $58.35, but opened at $60.52. Cargojet shares last traded at $60.52, with a volume of 1 shares.

Analyst Ratings Changes

CGJTF has been the topic of several recent analyst reports. BMO Capital Markets reissued a “market perform” rating on shares of Cargojet in a research note on Thursday, January 15th. Scotiabank reissued an “outperform” rating on shares of Cargojet in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Cargojet currently has an average rating of “Moderate Buy”.

Cargojet Stock Up 1.4%

The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.20 and a current ratio of 1.23. The stock has a market capitalization of $900.11 million and a price-to-earnings ratio of 57.53. The firm’s fifty day simple moving average is $65.71 and its 200 day simple moving average is $62.15.

Cargojet (OTCMKTS:CGJTF) last announced its earnings results on Tuesday, February 24th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.73 by $0.32. The firm had revenue of $207.32 million for the quarter, compared to the consensus estimate of $251.30 million. Cargojet had a net margin of 7.97% and a return on equity of 10.00%.

Cargojet Company Profile

Cargojet Inc is a Canadian-based air cargo carrier specializing in time-sensitive freight transportation. The company operates scheduled and on-demand cargo services throughout Canada and into international markets, providing next-flight-out and overnight delivery for a broad range of shippers. Cargojet’s fleet—anchored by Boeing 767-300ER freighters—is configured to handle standard palletized freight as well as specialized shipments such as temperature-controlled pharmaceuticals and high-value electronics.

Headquartered in Mississauga, Ontario, Cargojet serves major Canadian gateways including Toronto, Vancouver and Montreal, and extends its network into the United States, the Caribbean and select Latin American destinations.