National Bank Financial Forecasts Strong Price Appreciation for Cargojet (TSE:CJT) Stock

Key Points

• National Bank Financial raised its price target on Cargojet from C$108 to C$109 and maintained an outperform rating, implying about 27% upside from the current share price.
• Analyst sentiment remains broadly positive: 10 analysts rate the stock Buy and one rates it Hold, with a consensus price target of C$124.67 and an average rating of Moderate Buy.
• Cargojet recently traded at C$85.68 after a modest decline, and its latest quarterly results showed C$0.60 EPS on C$254.7 million in revenue, while analysts expect full-year EPS of about 5.89.

Cargojet (TSE:CJT - Get Free Report) had its target price upped by equities research analysts at National Bank Financial from C$108.00 to C$109.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's price target would suggest a potential upside of 27.22% from the stock's current price.

Several other equities analysts also recently issued reports on the stock. Royal Bank Of Canada reduced their price target on shares of Cargojet from C$143.00 to C$140.00 and set an "outperform" rating for the company in a report on Monday, April 13th. BMO Capital Markets cut their price objective on shares of Cargojet from C$94.00 to C$85.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 6th. Scotiabank reduced their target price on shares of Cargojet from C$118.00 to C$115.00 and set an "outperform" rating for the company in a research note on Thursday, April 9th. Canadian Imperial Bank of Commerce upped their target price on shares of Cargojet from C$116.00 to C$122.00 in a research report on Thursday, April 2nd. Finally, TD raised their price target on shares of Cargojet from C$120.00 to C$124.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$124.67.

Cargojet Stock Performance

Shares of TSE CJT traded down C$1.29 during mid-day trading on Tuesday, hitting C$85.68. The company had a trading volume of 40,756 shares, compared to its average volume of 91,879. Cargojet has a 12 month low of C$65.60 and a 12 month high of C$105.60. The stock has a market cap of C$1.28 billion, a price-to-earnings ratio of 34.97 and a beta of 1.02. The company has a debt-to-equity ratio of 123.57, a current ratio of 0.91 and a quick ratio of 0.79. The firm's 50 day simple moving average is C$83.59 and its two-hundred day simple moving average is C$86.41.

Cargojet (TSE:CJT - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported C$0.60 EPS for the quarter. Cargojet had a return on equity of 4.92% and a net margin of 3.64%.The firm had revenue of C$254.70 million during the quarter. As a group, equities research analysts forecast that Cargojet will post 5.890933 earnings per share for the current year.

About Cargojet

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.