ATB Cormark Capital Markets Raises Cargojet (TSE:CJT) Price Target to C$120.00

Key Points

• ATB Cormark raised Cargojet’s price target to C$120 from C$110 and maintained an “outperform” rating, implying 28.99% upside from the previous close.
• Other analysts also increased their targets, with TD, Desjardins, and Scotiabank issuing buy or outperform ratings. Cargojet has a consensus “Moderate Buy” rating and an average target price of C$120.92.
• Cargojet shares fell 0.7% to C$93.03 in Wednesday trading. The company recently reported quarterly EPS of C$0.47 and revenue of C$275.8 million.

Cargojet (TSE:CJT - Get Free Report) had its price target boosted by research analysts at ATB Cormark Capital Markets from C$110.00 to C$120.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price target would indicate a potential upside of 28.99% from the company's previous close.

CJT has been the topic of a number of other reports. BMO Capital Markets raised their price objective on shares of Cargojet from C$85.00 to C$90.00 in a research note on Wednesday. TD boosted their target price on shares of Cargojet from C$118.00 to C$127.00 and gave the stock a "buy" rating in a research report on Wednesday. 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. National Bank Financial upped their target price on shares of Cargojet from C$108.00 to C$109.00 and gave the stock an "outperform" rating in a report on Tuesday, July 14th. Finally, Scotiabank raised their price target on shares of Cargojet from C$120.00 to C$125.00 and gave the company a "sector outperform" rating in a research report on Wednesday. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Cargojet currently has an average rating of "Moderate Buy" and an average target price of C$120.92.

Cargojet Stock Down 0.7%

Shares of TSE:CJT traded down C$0.64 during trading on Wednesday, reaching C$93.03. 90,266 shares of the stock were exchanged, compared to its average volume of 89,961. Cargojet has a 1-year low of C$65.60 and a 1-year high of C$105.26. The stock has a fifty day moving average of C$84.71 and a two-hundred day moving average of C$86.21. The company has a debt-to-equity ratio of 123.57, a current ratio of 0.91 and a quick ratio of 0.79. The firm has a market cap of C$1.39 billion, a price-to-earnings ratio of 37.97 and a beta of 1.02.

Cargojet (TSE:CJT - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported C$0.47 earnings per share (EPS) for the quarter. The business had revenue of C$275.80 million during the quarter. Cargojet had a net margin of 3.64% and a return on equity of 4.92%. Research analysts anticipate that Cargojet will post 5.890933 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source