Cargojet (TSE:CJT) Reaches New 52-Week High – Should You Buy?

Cargojet Inc. (TSE:CJT)’s stock price reached a new 52-week high during mid-day trading on Thursday. The company traded as high as C$110.30 and last traded at C$108.14, with a volume of 111,577 shares changing hands. The stock had previously closed at C$98.62.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. TD set a C$128.00 target price on shares of Cargojet and gave the stock a “buy” rating in a report on Friday, October 2nd. Desjardins boosted their target price on shares of Cargojet from C$126.00 to C$135.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. ATB Cormark Capital Markets upped their price target on shares of Cargojet from C$110.00 to C$120.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. BMO Capital Markets raised their price target on Cargojet from C$85.00 to C$90.00 in a research report on Wednesday, August 12th. Finally, Acumen Capital lifted their price objective on Cargojet from C$115.00 to C$120.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Cargojet has an average rating of “Moderate Buy” and a consensus price target of C$121.09.

Cargojet Stock Performance

The firm’s 50 day moving average price is C$86.27 and its 200-day moving average price is C$86.19. The firm has a market cap of C$1.59 billion, a price-to-earnings ratio of 34.83 and a beta of 0.72. The company has a debt-to-equity ratio of 119.27, a current ratio of 0.83 and a quick ratio of 0.79.

Cargojet (TSE:CJT) last announced its earnings results on Wednesday, November 11th. The company reported C$1.21 earnings per share (EPS) for the quarter. The business had revenue of C$286.50 million for the quarter. Cargojet had a net margin of 4.49% and a return on equity of 6.30%. On average, analysts anticipate that Cargojet Inc. will post 5.89 earnings per share for the current year.

Cargojet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, October 5th were given a $0.3850 dividend. This represents a $1.54 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, September 18th. Cargojet’s dividend payout ratio (DPR) is currently 47.57%.

About Cargojet

Cargojet is Canada’s leading provider of time-sensitive premium air cargo services to all major cities across North America, providing Dedicated, ACMI and International Charter services and carries over 25,000,000 pounds of cargo weekly. Cargojet operates its network with its own fleet of 41 aircraft.