Cargojet (TSE:CJT) Stock Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Cargojet Inc. shares have crossed above their 200-day moving average of C$96.09, trading as high as C$97.50 during the latest session.
• Several brokerages have recently adjusted their price targets for Cargojet, with BMO Capital Markets lowering its target from C$120.00 to C$95.00 and TD Securities raising it from C$150.00 to C$154.00, contributing to a consensus target price of C$148.50.
• The company announced a quarterly dividend of $0.35, resulting in an annualized yield of 1.4%, despite a high payout ratio of 982.53%.

Cargojet Inc. (TSE:CJT - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$96.09 and traded as high as C$97.50. Cargojet shares last traded at C$96.70, with a volume of 44,479 shares traded.

Wall Street Analyst Weigh In

CJT has been the topic of several recent research reports. TD Securities lifted their target price on shares of Cargojet from C$150.00 to C$154.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Stifel Nicolaus set a C$125.00 target price on shares of Cargojet and gave the stock a "buy" rating in a research note on Thursday, June 12th. Royal Bank Of Canada dropped their target price on shares of Cargojet from C$183.00 to C$177.00 in a research note on Monday, April 28th. CIBC dropped their price target on shares of Cargojet from C$163.00 to C$150.00 in a research note on Thursday, April 10th. Finally, Stifel Canada raised shares of Cargojet to a "strong-buy" rating in a research note on Wednesday, June 11th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of C$148.50.

Cargojet Price Performance

The stock has a market capitalization of C$1.58 billion, a price-to-earnings ratio of 692.05 and a beta of 0.91. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69. The business's 50 day simple moving average is C$98.41 and its 200-day simple moving average is C$95.59.

Cargojet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 4th. Shareholders of record on Friday, July 4th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, June 20th. Cargojet's dividend payout ratio is presently 982.53%.

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.