Cargojet (TSE:CJT) Stock Crosses Below 200-Day Moving Average Following Analyst Downgrade

Key Points

• Cargojet's stock recently fell below its 200-day moving average following a price target downgrade by National Bankshares from C$123.00 to C$120.00, with shares trading as low as C$82.18.
• Multiple analysts have mixed ratings on Cargojet, with a consensus rating of "Buy" and an average price target of C$143.07.
• Cargojet declared a quarterly dividend of $0.35, resulting in an annualized yield of 1.7%, with a dividend payout ratio of 15.52%.

Cargojet Inc. (TSE:CJT - Get Free Report) shares crossed below its 200-day moving average during trading on Thursday after National Bankshares lowered their price target on the stock from C$123.00 to C$120.00. The stock has a 200-day moving average of C$93.69 and traded as low as C$82.18. National Bankshares currently has an outperform rating on the stock. Cargojet shares last traded at C$82.21, with a volume of 164,530 shares traded.

Several other research analysts have also commented on CJT. Desjardins set a C$149.00 price target on Cargojet and gave the stock a "buy" rating in a research report on Wednesday, October 1st. Stifel Nicolaus raised their price objective 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. Acumen Capital decreased their price objective on shares of 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. ATB Capital decreased their price objective on shares of 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, CIBC decreased their price objective on shares of Cargojet from C$142.00 to C$132.00 in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of C$143.07.

Cargojet Stock Down 2.1%

The company has a market cap of C$1.24 billion, a P/E ratio of 9.11 and a beta of 0.99. 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 moving average is C$97.15 and its 200 day moving average is C$93.69.

Cargojet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 19th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.7%. Cargojet's dividend payout ratio (DPR) 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.

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