Cargojet (TSE:CJT) Stock Price Expected to Rise, Desjardins Analyst Says

Cargojet (TSE:CJT) had its price objective boosted by research analysts at Desjardins from C$126.00 to C$135.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price target points to a potential upside of 45.11% from the company’s current price.

Other equities research analysts have also issued reports about the stock. National Bank Financial upped their price target on shares of Cargojet from C$108.00 to C$109.00 and gave the company an “outperform” rating in a report on Tuesday, July 14th. TD boosted their price objective on Cargojet from C$118.00 to C$127.00 and gave the company a “buy” rating in a report on Wednesday. Scotiabank boosted their price objective on Cargojet from C$120.00 to C$125.00 and gave the company a “sector outperform” rating in a report on Wednesday. Finally, BMO Capital Markets upped their target price on Cargojet from C$85.00 to C$90.00 in a research note on Wednesday. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Cargojet presently has an average rating of “Moderate Buy” and an average target price of C$120.92.

Cargojet Stock Performance

TSE CJT traded down C$0.64 on Wednesday, hitting C$93.03. 90,266 shares of the company’s stock traded hands, compared to its average volume of 89,961. The firm’s 50-day moving average price is C$84.71 and its two-hundred day moving average price is C$86.21. The firm has a market capitalization of C$1.39 billion, a PE ratio of 37.97 and a beta of 1.02. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 123.57. Cargojet has a 1-year low of C$65.60 and a 1-year high of C$105.26.

Cargojet (TSE:CJT) last released its quarterly earnings data on Monday, August 10th. The company reported C$0.47 earnings per share for the quarter. Cargojet had a net margin of 3.64% and a return on equity of 4.92%. The firm had revenue of C$275.80 million for the quarter. As a group, analysts expect that Cargojet will post 5.890933 EPS for the current 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.