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

Key Points

• BMO Capital Markets cut its price target on Cargojet from C$94.00 to C$85.00 and maintained a "market perform" rating, implying about a 2.96% upside from the prior close.
• Analysts remain broadly positive overall: 10 Buy ratings and 1 Hold give a consensus "Moderate Buy" and a much higher consensus target price of C$124.58.
• Cargojet traded at C$82.56 on the day; the company reported quarterly EPS of C$0.60 on C$254.7M revenue, with a market cap of C$1.23B and a PE of 15.76.

Cargojet (TSE:CJT - Get Free Report) had its price target dropped by equities research analysts at BMO Capital Markets from C$94.00 to C$85.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a "market perform" rating on the stock. BMO Capital Markets' price objective would indicate a potential upside of 2.96% from the stock's previous close.

CJT has been the topic of a number of other reports. Desjardins raised their price objective on Cargojet from C$117.00 to C$126.00 in a report on Thursday, February 26th. Scotiabank decreased their price objective on Cargojet from C$118.00 to C$115.00 and set an "outperform" rating on the stock in a report on Thursday, April 9th. Canadian Imperial Bank of Commerce raised their price objective on Cargojet from C$116.00 to C$122.00 in a report on Thursday, April 2nd. Royal Bank Of Canada decreased their price objective on Cargojet from C$143.00 to C$140.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. Finally, National Bank Financial lifted their price target on Cargojet from C$104.00 to C$108.00 and gave the stock an "outperform" rating in a research note on Wednesday. Ten 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$124.58.

Cargojet Price Performance

Shares of CJT traded up C$4.86 during trading hours on Wednesday, reaching C$82.56. 113,617 shares of the company's stock traded hands, compared to its average volume of 104,020. The stock has a market cap of C$1.23 billion, a PE ratio of 15.76 and a beta of 0.87. The company has a current ratio of 1.23, a quick ratio of 0.79 and a debt-to-equity ratio of 155.48. The firm's 50 day simple moving average is C$84.55 and its 200-day simple moving average is C$84.45. Cargojet has a 12 month low of C$65.60 and a 12 month high of C$113.89.

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

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