TD Securities Raises Cargojet (TSE:CJT) Price Target to C$160.00

Key Points

• TD Securities has raised Cargojet's target price to C$160.00, indicating a potential upside of 54.53% from its previous close.
• The company is currently rated as a "buy" by multiple analysts, with a consensus target price of C$148.25.
• Cargojet's stock rose 5.0%, reaching C$103.54 during Friday's trading session.

Cargojet (TSE:CJT - Free Report) had its price objective increased by TD Securities from C$150.00 to C$160.00 in a research report sent to investors on Friday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

A number of other research firms have also weighed in on CJT. CIBC decreased their price target on Cargojet from C$163.00 to C$150.00 in a research report on Thursday, April 10th. BMO Capital Markets reduced their price objective on Cargojet from C$120.00 to C$95.00 in a research note on Tuesday, April 15th. Stifel Nicolaus set a C$125.00 price objective on Cargojet and gave the stock a "buy" rating in a research note on Thursday, June 12th. Royal Bank Of Canada reduced their price objective on Cargojet from C$183.00 to C$177.00 in a research note on Monday, April 28th. Finally, Stifel Canada raised Cargojet to a "strong-buy" rating in a research note on Wednesday, June 11th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of C$148.00.

Cargojet Trading Up 1.3%

Shares of TSE:CJT traded up C$1.36 during midday trading on Friday, reaching C$104.59. The company had a trading volume of 11,169 shares, compared to its average volume of 88,178. The company has a debt-to-equity ratio of 98.69, a quick ratio of 0.79 and a current ratio of 0.56. Cargojet has a 1-year low of C$69.60 and a 1-year high of C$144.97. The firm has a market cap of C$1.67 billion, a price-to-earnings ratio of 734.02 and a beta of 0.91. The company has a fifty day simple moving average of C$99.15 and a two-hundred day simple moving average of C$94.79.

Cargojet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 4th. Stockholders of record on Friday, July 4th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, June 20th. Cargojet's dividend payout ratio (DPR) is presently 982.53%.

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.