Cargojet (OTCMKTS:CGJTF) Shares Gap Up - Time to Buy?

Key Points

• Cargojet shares opened 4.7% higher, rising from $60.98 to $64.20, though trading volume was very light at just 200 shares.
• Analyst sentiment is generally positive: two analysts rate the stock a Buy and one rates it Hold, resulting in a consensus rating of “Moderate Buy.”
• The company exceeded revenue expectations with quarterly revenue of $194.16 million, but missed earnings estimates, reporting EPS of $0.48 versus the $0.57 consensus.

Cargojet Inc. (OTCMKTS:CGJTF - Get Free Report)'s stock price gapped up prior to trading on Monday. The stock had previously closed at $60.9756, but opened at $64.20. Cargojet shares last traded at $64.20, with a volume of 200 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. BMO Capital Markets reiterated a "market perform" rating on shares of Cargojet in a report on Wednesday, August 12th. Scotiabank reiterated an "outperform" rating on shares of Cargojet in a research report on Wednesday, August 12th. Finally, TD Securities reaffirmed a "buy" rating on shares of Cargojet in a research note on Thursday, September 17th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Cargojet Stock Up 4.7%

The stock's 50-day moving average price is $60.36 and its two-hundred day moving average price is $62.13. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.83. The stock has a market capitalization of $961.87 million and a PE ratio of 32.77.

Cargojet (OTCMKTS:CGJTF - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.09). The firm had revenue of $194.16 million during the quarter, compared to analysts' expectations of $184.05 million. Cargojet had a return on equity of 6.75% and a net margin of 4.48%.

About Cargojet

Cargojet Inc is a Canadian air cargo carrier that provides time-sensitive freight transportation and logistics services. Through its operating subsidiary, Cargojet Airways, the company transports packages, mail and other cargo for e-commerce companies, freight forwarders, integrators and other commercial customers.

Cargojet operates scheduled overnight air-cargo services across Canada, connecting major Canadian cities and regional markets. It also provides international and transborder cargo transportation, charter flights and aircraft, crew, maintenance and insurance (ACMI) services for customers that require dedicated freighter capacity.

Founded in 2001, Cargojet is headquartered in Mississauga, Ontario.

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