National Bank Financial Issues Positive Forecast for Cargojet (TSE:CJT) Stock Price

Key Points

• National Bank Financial raised Cargojet’s price target to C$112 from C$109 and maintained an “outperform” rating, implying 20.39% upside from the current price.
• Analyst sentiment is broadly positive: ten analysts rate Cargojet a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average target of C$120.92.
• Cargojet shares fell 0.7% to C$93.03 in Wednesday trading. The company recently reported quarterly EPS of C$0.47 on revenue of C$275.8 million.

Cargojet (TSE:CJT - Get Free Report) had its price target increased by analysts at National Bank Financial from C$109.00 to C$112.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's target price points to a potential upside of 20.39% from the stock's current price.

Other equities analysts also recently issued reports about the stock. ATB Cormark Capital Markets lifted their target price on shares of Cargojet from C$110.00 to C$120.00 and gave the stock an "outperform" rating in a research note on Wednesday. Desjardins increased their price target on shares of Cargojet from C$126.00 to C$135.00 and gave the company a "buy" rating in a research note on Wednesday. TD raised their price target on shares of Cargojet from C$118.00 to C$127.00 and gave the stock a "buy" rating in a report on Wednesday. BMO Capital Markets lifted their price target on shares of Cargojet from C$85.00 to C$90.00 in a research report on Wednesday. Finally, Scotiabank upped their price objective on Cargojet from C$120.00 to C$125.00 and gave the company a "sector outperform" rating in a report on Wednesday. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of C$120.92.

Cargojet Trading Down 0.7%

TSE:CJT traded down C$0.64 during trading hours on Wednesday, hitting C$93.03. The company had a trading volume of 90,266 shares, compared to its average volume of 89,961. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 123.57. The company has a 50-day moving average of C$84.71 and a 200 day moving average of C$86.21. The company has a market cap of C$1.39 billion, a P/E ratio of 37.97 and a beta of 1.02. Cargojet has a 1 year low of C$65.60 and a 1 year high of C$105.26.

Cargojet (TSE:CJT - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported C$0.47 EPS for the quarter. The business had revenue of C$275.80 million for the quarter. Cargojet had a return on equity of 4.92% and a net margin of 3.64%. Sell-side analysts expect that Cargojet will post 5.890933 earnings per share for the current year.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source