Cargojet (TSE:CJT) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Cargojet Inc. (TSE:CJT) recently surpassed its 200-day moving average, trading at a high of C$99.20 and closing at C$95.61 on Tuesday.
• Analysts have varied target price adjustments, with Acumen Capital lowering its target from C$175.00 to C$170.00, while Scotiabank increased its target from C$138.00 to C$140.00; the current consensus rating for Cargojet is "Buy" with an average price target of C$146.77.
• The company announced a quarterly dividend of $0.35 per share, representing a 1.5% yield, set to be paid on October 3rd.

Cargojet Inc. (TSE:CJT - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$93.35 and traded as high as C$99.20. Cargojet shares last traded at C$95.61, with a volume of 204,799 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently commented on CJT. Acumen Capital lowered their target price 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 lifted their target price on Cargojet from C$138.00 to C$140.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. ATB Capital decreased 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. Stifel Nicolaus lifted 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. Finally, Stifel Canada raised Cargojet to a "strong-buy" rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of C$146.77.

Cargojet Trading Down 3.6%

The company has a fifty day simple moving average of C$100.80 and a two-hundred day simple moving average of C$93.35. 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 stock has a market capitalization of C$1.44 billion, a P/E ratio of 10.60 and a beta of 1.26.

Cargojet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.5%. Cargojet's dividend payout ratio is presently 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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