Cargojet (TSE:CJT) Shares Pass Above 200 Day Moving Average - Should You Sell?

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.

Cargojet Inc. (TSE:CJT - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 traded.

Analyst Ratings Changes

CJT has been the topic of several research reports. Stifel Canada raised shares of Cargojet to a "strong-buy" rating in a research note on Wednesday, June 11th. Scotiabank increased their target price on shares of Cargojet from C$138.00 to C$140.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Stifel Nicolaus boosted their price target on shares of Cargojet from C$125.00 to C$130.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. TD Securities raised their price objective on Cargojet from C$150.00 to C$160.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, ATB Capital decreased their price objective on Cargojet from C$155.00 to C$145.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of C$146.77.

Cargojet Stock Performance

The business's fifty day simple moving average is C$101.45 and its 200-day simple moving average is C$93.10. The firm has a market cap of C$1.50 billion, a P/E ratio of 11.00 and a beta of 1.26. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69.

Cargojet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 4th. Investors of record on Friday, July 4th were issued 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 payout ratio is currently 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.

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