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Cargojet (TSE:CJT) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Cargojet logo with Industrials background

Key Points

  • Cargojet's stock price recently crossed above its 200-day moving average, trading at C$100.47, while analysts have issued mixed ratings with price targets ranging from C$125.00 to C$177.00.
  • The company announced a quarterly dividend of $0.35 per share, representing an annualized yield of 1.39%, despite a high payout ratio of 982.53%.
  • Cargojet operates a domestic air cargo network across Canada and international routes, highlighting its significant role in logistics between multiple regions, including North America and Europe.
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Shares of Cargojet Inc. (TSE:CJT - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$96.63 and traded as high as C$102.68. Cargojet shares last traded at C$100.47, with a volume of 85,185 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Stifel Canada upgraded Cargojet to a "strong-buy" rating in a research note on Wednesday, June 11th. Stifel Nicolaus set a C$125.00 price objective on shares of Cargojet and gave the stock a "buy" rating in a report on Thursday, June 12th. Scotiabank decreased their price objective on shares of Cargojet from C$165.00 to C$139.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. CIBC decreased their price objective on shares of Cargojet from C$163.00 to C$150.00 in a report on Thursday, April 10th. Finally, Royal Bank Of Canada dropped their price target on Cargojet from C$183.00 to C$177.00 in a research report on Monday, April 28th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of C$148.50.

Read Our Latest Research Report on Cargojet

Cargojet Stock Down 1.2%

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 company has a 50-day simple moving average of C$97.32 and a two-hundred day simple moving average of C$96.63. The stock has a market cap of C$1.61 billion, a P/E ratio of 705.11 and a beta of 0.91.

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 given a dividend of $0.35 per share. The ex-dividend date was Friday, June 20th. This represents a $1.40 annualized dividend and a yield of 1.39%. Cargojet's payout ratio is 982.53%.

About Cargojet

(Get Free Report)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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