Cargojet (TSE:CJT) Shares Pass Above 200 Day Moving Average - What's Next?

Key Points

• Cargojet Inc. shares surpassed their 200-day moving average, currently trading at C$99.26, indicating positive momentum in the stock price.
• Analyst ratings for Cargojet have strengthened, with one analyst rating it as "Strong Buy" and nine others giving it a "Buy" rating, contributing to a consensus price target of C$146.77.
• The company declared a quarterly dividend of $0.35 per share, resulting in an annualized yield of 1.4%, showcasing its commitment to returning value to shareholders.

Shares of Cargojet Inc. (TSE:CJT - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$93.10 and traded as high as C$99.26. Cargojet shares last traded at C$99.26, with a volume of 62,685 shares.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TD Securities raised their target price on Cargojet from C$150.00 to C$160.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Acumen Capital dropped their price objective on Cargojet from C$175.00 to C$170.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Scotiabank increased their price objective on Cargojet from C$138.00 to C$140.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. ATB Capital dropped their price objective on Cargojet from C$155.00 to C$145.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Finally, Stifel Nicolaus increased their price objective on Cargojet from C$125.00 to C$130.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company's stock. Based on data from MarketBeat, Cargojet presently has an average rating of "Buy" and an average price target of C$146.77.

Cargojet Stock Performance

The company has a market capitalization of C$1.49 billion, a price-to-earnings ratio of 10.94 and a beta of 1.26. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79. The stock has a 50 day moving average price of C$101.07 and a two-hundred day moving average price of C$93.27.

Cargojet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.4%. Cargojet's dividend payout ratio is 15.52%.

Cargojet Company Profile

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.