Cargojet (TSE:CJT) Price Target Raised to C$120.00 at Acumen Capital

Key Points

• Acumen Capital raised Cargojet’s price target from C$115 to C$120 and maintained a “buy” rating, implying 28.99% potential upside from the previous close.
• Analyst sentiment remains favorable: ten analysts rate the stock a Buy and one rates it a Hold, with a consensus price target of C$120.92. Several firms also raised their targets, including Desjardins to C$135 and TD to C$127.
• Cargojet shares slipped 0.7% to C$93.03 during Wednesday trading. The company reported quarterly revenue of C$275.8 million and earnings of C$0.47 per share in its latest results.

Cargojet (TSE:CJT - Get Free Report) had its price target lifted by Acumen Capital from C$115.00 to C$120.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Acumen Capital's price target indicates a potential upside of 28.99% from the company's previous close.

Other equities research analysts have also issued reports about the company. TD raised their price objective on Cargojet from C$118.00 to C$127.00 and gave the stock a "buy" rating in a research report on Wednesday. National Bank Financial upped their target price on Cargojet from C$108.00 to C$109.00 and gave the company an "outperform" rating in a report on Tuesday, July 14th. Scotiabank upped their target price on Cargojet from C$120.00 to C$125.00 and gave the company a "sector outperform" rating in a report on Wednesday. Desjardins increased their price target 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. Finally, BMO Capital Markets raised their price target on shares of Cargojet from C$85.00 to C$90.00 in a report on Wednesday. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Cargojet has an average rating of "Moderate Buy" and a consensus price target of C$120.92.

Cargojet Stock Down 0.7%

Shares of CJT traded down C$0.64 during mid-day trading on Wednesday, reaching C$93.03. The company's stock had a trading volume of 90,266 shares, compared to its average volume of 89,961. The business has a fifty day moving average of C$84.71 and a 200 day moving average of C$86.21. The company has a market cap of C$1.39 billion, a price-to-earnings ratio of 37.97 and a beta of 1.02. Cargojet has a 1 year low of C$65.60 and a 1 year high of C$105.26. The company has a quick ratio of 0.79, a current ratio of 0.91 and a debt-to-equity ratio of 123.57.

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