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

Cargojet (TSE:CJT) had its price target increased by equities research analysts at Desjardins from C$135.00 to C$151.00 in a report released on Friday, BayStreet reports. The firm presently has a “buy” rating on the stock. Desjardins‘s price objective points to a potential upside of 39.20% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on CJT. Acumen Capital upped their price target on Cargojet from C$115.00 to C$120.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Scotiabank lifted their price objective on Cargojet from C$120.00 to C$125.00 and gave the stock a “sector outperform” rating in a report on Wednesday, August 12th. ATB Cormark Capital Markets boosted their target price on Cargojet from C$110.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. TD upped their target price on Cargojet from C$129.00 to C$134.00 and gave the company a “buy” rating in a report on Friday. Finally, 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. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Cargojet presently has an average rating of “Moderate Buy” and a consensus price target of C$126.73.

Cargojet Price Performance

CJT stock traded down C$0.29 during trading on Friday, reaching C$108.48. 86,571 shares of the company were exchanged, compared to its average volume of 105,408. The company has a market cap of C$1.61 billion, a P/E ratio of 35.11 and a beta of 0.72. Cargojet has a 52-week low of C$71.00 and a 52-week high of C$112.71. The stock’s 50 day moving average price is C$86.84 and its 200 day moving average price is C$86.27. The company has a debt-to-equity ratio of 119.27, a quick ratio of 0.79 and a current ratio of 0.83.

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

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.