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

Key Points

• Cargojet's stock (TSE:CJT) recently crossed above its 200-day moving average, reaching a high of C$103.51 during trading, indicating potential momentum.
• Multiple analysts have adjusted their price targets for Cargojet, with a consensus average target of C$148.00 and several firms giving the stock "buy" or "outperform" ratings.
• The company declared a quarterly dividend of $0.35, reflecting an annualized yield of 1.4%, despite having a high payout ratio of 982.53%.

Cargojet Inc. (TSE:CJT - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$94.04 and traded as high as C$103.51. Cargojet shares last traded at C$103.10, with a volume of 23,614 shares traded.

Analysts Set New Price Targets

CJT has been the topic of several research analyst reports. ATB Capital decreased their price target on shares of Cargojet from C$155.00 to C$145.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. TD Securities raised their price target on shares of Cargojet from C$150.00 to C$160.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Royal Bank Of Canada decreased their price target on shares of Cargojet from C$183.00 to C$177.00 in a research report on Monday, April 28th. Scotiabank raised their price target on shares of Cargojet from C$138.00 to C$140.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Stifel Canada upgraded shares of Cargojet to a "strong-buy" rating in a research report on Wednesday, June 11th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of C$148.00.

Cargojet Trading Up 0.4%

The company has a 50 day moving average of C$99.81 and a 200 day moving average of C$94.04. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69. The firm has a market cap of C$1.65 billion, a price-to-earnings ratio of 723.56 and a beta of 0.91.

Cargojet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 4th. Shareholders of record on Friday, July 4th were given a $0.35 dividend. The ex-dividend date was Friday, June 20th. This represents a $1.40 dividend on an annualized basis and a yield of 1.4%. Cargojet's payout ratio is 982.53%.

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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