Cargojet (TSE:CJT) Price Target Cut to C$118.00 by Analysts at TD

Key Points

• TD cut its price target on Cargojet to C$118 from C$124, though that still implies about 39.6% upside from the current share price.
• Analyst sentiment remains generally positive overall, with 10 Buy ratings and 1 Hold; MarketBeat’s consensus target is C$124.17 and the consensus rating is Moderate Buy.
• Cargojet recently reported C$0.60 EPS on C$254.7 million in revenue, while the stock traded at C$84.50 after rising slightly on the day.

Cargojet (TSE:CJT - Get Free Report) had its target price dropped by TD from C$124.00 to C$118.00 in a report released on Wednesday,BayStreet.CA reports. TD's target price points to a potential upside of 39.64% from the stock's current price.

CJT has been the topic of a number of other reports. Canadian Imperial Bank of Commerce boosted their price objective on Cargojet from C$116.00 to C$122.00 in a research report on Thursday, April 2nd. BMO Capital Markets reduced their target price on Cargojet from C$94.00 to C$85.00 and set a "market perform" rating for the company in a research report on Wednesday, May 6th. National Bank Financial boosted their price target on shares of Cargojet from C$108.00 to C$109.00 and gave the company an "outperform" rating in a report on Tuesday. Scotiabank lowered 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 report on Thursday, April 9th. Finally, Royal Bank Of Canada dropped their price objective on shares of Cargojet from C$143.00 to C$140.00 and set an "outperform" rating for the company in a research note on Monday, April 13th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$124.17.

Cargojet Stock Performance

CJT traded up C$0.66 on Wednesday, hitting C$84.50. 29,237 shares of the stock traded hands, compared to its average volume of 91,779. Cargojet has a 52 week low of C$65.60 and a 52 week high of C$105.60. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 123.57. The firm has a market capitalization of C$1.26 billion, a PE ratio of 34.49 and a beta of 1.02. The business has a fifty day moving average price of C$83.71 and a two-hundred day moving average price of C$86.40.

Cargojet (TSE:CJT - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported C$0.60 EPS for the quarter. Cargojet had a return on equity of 4.92% and a net margin of 3.64%.The firm had revenue of C$254.70 million during the quarter. On average, research analysts predict that Cargojet will post 5.890933 EPS for the current fiscal 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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