Acumen Capital Lowers Cargojet (TSE:CJT) Price Target to C$170.00

Key Points

• Acumen Capital has lowered its price target for Cargojet from C$175.00 to C$170.00, while maintaining a "buy" rating, which suggests a potential upside of 69.39% from the current stock price.
• Other analysts have varied their price targets for Cargojet, with TD Securities increasing their target to C$160.00, and Royal Bank of Canada reducing theirs to C$177.00, indicating mixed sentiments among market experts.
• Cargojet's stock is currently trading at C$100.36, down by C$1.65 during recent trading, and it has a market cap of C$1.61 billion with a high price-to-earnings ratio of 704.33.

Cargojet (TSE:CJT - Get Free Report) had its price target reduced by equities research analysts at Acumen Capital from C$175.00 to C$170.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Acumen Capital's target price indicates a potential upside of 64.49% from the stock's current price.

Several other analysts also recently commented on CJT. BMO Capital Markets dropped their price objective on Cargojet from C$120.00 to C$95.00 in a research note on Tuesday, April 15th. TD Securities raised their price objective on Cargojet from C$150.00 to C$160.00 and gave the company a "buy" rating in a report on Friday, August 8th. Stifel Nicolaus raised their price objective on Cargojet from C$125.00 to C$130.00 and gave the company a "buy" rating in a report on Monday. Scotiabank lifted their price target on Cargojet from C$138.00 to C$140.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, Royal Bank Of Canada reduced their price objective on Cargojet from C$183.00 to C$177.00 in a report on Monday, April 28th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cargojet currently has an average rating of "Buy" and an average target price of C$148.00.

Cargojet Price Performance

TSE CJT traded down C$1.64 on Monday, hitting C$103.35. 7,391 shares of the company were exchanged, compared to its average volume of 88,035. The firm has a 50 day moving average of C$99.36 and a two-hundred day moving average of C$94.86. The company has a market cap of C$1.65 billion, a P/E ratio of 725.32 and a beta of 0.91. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69. Cargojet has a 1-year low of C$69.60 and a 1-year high of C$144.97.

Cargojet Company Profile

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.