Cargojet (TSE:CJT) Price Target Cut to C$104.00 by Analysts at National Bank Financial

Key Points

• National Bank Financial cut its target price on Cargojet to C$104.00 from C$108.00 while maintaining an "outperform" rating, implying a potential upside of 32.18% from the previous close.
• Analyst consensus remains positive — nine Buy ratings and one Hold produce an average target of C$125.09, classifying the stock as a "Moderate Buy."
• Shares recently traded down to C$78.68, well below analyst targets; the company has a market cap of C$1.17B and a high debt-to-equity ratio of 155.48, indicating elevated leverage risk.

Cargojet (TSE:CJT - Get Free Report) had its target price dropped by equities researchers at National Bank Financial from C$108.00 to C$104.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's price objective would indicate a potential upside of 32.18% from the company's previous close.

CJT has been the topic of several other research reports. Desjardins upped their price target on shares of Cargojet from C$117.00 to C$126.00 in a research report on Thursday, February 26th. Scotiabank reduced their price target on shares of Cargojet from C$118.00 to C$115.00 and set an "outperform" rating on the stock in a research report on Thursday, April 9th. Royal Bank Of Canada reduced their price target on shares of Cargojet from C$143.00 to C$140.00 and set an "outperform" rating on the stock in a research report on Monday, April 13th. Canadian Imperial Bank of Commerce upped their price target on shares of Cargojet from C$116.00 to C$122.00 in a research report on Thursday, April 2nd. Finally, BMO Capital Markets upped their price target on shares of Cargojet from C$90.00 to C$94.00 and gave the stock a "market perform" rating in a research report on Thursday, February 26th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$125.09.

Cargojet Price Performance

Shares of TSE:CJT traded down C$3.37 on Wednesday, hitting C$78.68. The stock had a trading volume of 78,880 shares, compared to its average volume of 105,323. Cargojet has a twelve month low of C$65.60 and a twelve month high of C$113.89. The company has a debt-to-equity ratio of 155.48, a quick ratio of 0.79 and a current ratio of 1.23. The firm's 50 day moving average price is C$87.40 and its 200-day moving average price is C$84.90. The company has a market capitalization of C$1.17 billion, a price-to-earnings ratio of 15.02 and a beta of 0.86.

Cargojet (TSE:CJT - Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported C$1.47 EPS for the quarter. The company had revenue of C$284.70 million for the quarter. Cargojet had a net margin of 8.08% and a return on equity of 10.73%. On average, equities research analysts predict that Cargojet will post 5.890933 earnings per share 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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