Cargojet (TSE:CJT) Price Target Raised to C$125.00 at Scotiabank

Key Points

• Scotiabank raised Cargojet’s price target to C$125 from C$120 while maintaining a “sector outperform” rating, implying approximately 34% upside from the reported share price.
• Analyst sentiment remains positive: ten analysts rate the stock a Buy and one rates it Hold, resulting in a “Moderate Buy” consensus and an average price target of C$120.92.
• Cargojet shares fell 0.7% to C$93.03 in Wednesday trading. The company recently reported quarterly earnings of C$0.47 per share and revenue of C$275.8 million.

Cargojet (TSE:CJT - Get Free Report) had its target price upped by investment analysts at Scotiabank from C$120.00 to C$125.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a "sector outperform" rating on the stock. Scotiabank's price target points to a potential upside of 34.37% from the stock's current price.

A number of other equities analysts have also commented on the stock. National Bank Financial boosted their price objective on shares of Cargojet from C$108.00 to C$109.00 and gave the stock an "outperform" rating in a report on Tuesday, July 14th. TD raised their target price on Cargojet from C$118.00 to C$127.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, BMO Capital Markets raised their target price on Cargojet from C$85.00 to C$90.00 in a research note on Wednesday. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cargojet currently has an average rating of "Moderate Buy" and an average 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. 90,266 shares of the stock traded hands, compared to its average volume of 89,961. The stock has a fifty day simple moving average of C$84.71 and a 200 day simple moving average of C$86.21. Cargojet has a 12-month low of C$65.60 and a 12-month 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. The firm has a market cap of C$1.39 billion, a price-to-earnings ratio of 37.97 and a beta of 1.02.

Cargojet (TSE:CJT - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported C$0.47 earnings per share for the quarter. The business had revenue of C$275.80 million during the quarter. Cargojet had a net margin of 3.64% and a return on equity of 4.92%. Sell-side analysts expect 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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