BMO Capital Markets Cuts Cargojet (TSE:CJT) Price Target to C$85.00

Cargojet (TSE:CJT) had its price objective reduced by equities research analysts at BMO Capital Markets from C$94.00 to C$85.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 2.96% from the company’s previous close.

CJT has been the topic of a number of other reports. Royal Bank Of Canada cut their price objective on Cargojet from C$143.00 to C$140.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Stifel Nicolaus lifted their price target on Cargojet from C$100.00 to C$120.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Scotiabank dropped their price target on Cargojet from C$118.00 to C$115.00 and set an “outperform” rating on the stock in a research report on Thursday, April 9th. National Bank Financial lifted their price target on Cargojet from C$104.00 to C$108.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Canadian Imperial Bank of Commerce lifted their price target on Cargojet from C$116.00 to C$122.00 in a research report on Thursday, April 2nd. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$124.58.

Cargojet Trading Up 6.3%

Shares of CJT stock traded up C$4.86 during trading hours on Wednesday, reaching C$82.56. The company’s stock had a trading volume of 113,617 shares, compared to its average volume of 104,020. The stock has a market capitalization of C$1.23 billion, a P/E ratio of 15.76 and a beta of 0.87. Cargojet has a one year low of C$65.60 and a one year high of C$113.89. The firm’s fifty day simple moving average is C$84.55 and its 200 day simple moving average is C$84.45. The company has a current ratio of 1.23, a quick ratio of 0.79 and a debt-to-equity ratio of 155.48.

Cargojet (TSE:CJT) last issued its quarterly earnings data on Monday, May 4th. The company reported C$0.60 earnings per share for the quarter. The firm had revenue of C$254.70 million for the quarter. Cargojet had a return on equity of 10.73% and a net margin of 8.08%. Equities research 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.