Cargojet (TSE:CJT) Price Target Cut to C$177.00 by Analysts at Royal Bank of Canada

Cargojet (TSE:CJT - Free Report) had its target price trimmed by Royal Bank of Canada from C$183.00 to C$177.00 in a research report sent to investors on Monday,BayStreet.CA reports.

Other research analysts also recently issued reports about the stock. Scotiabank decreased their target price on shares of Cargojet from C$165.00 to C$139.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. CIBC lowered their target price on Cargojet from C$163.00 to C$150.00 in a research note on Thursday, April 10th. BMO Capital Markets decreased their price target on Cargojet from C$120.00 to C$95.00 in a report on Tuesday, April 15th. TD Securities upped their price objective on Cargojet from C$150.00 to C$154.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Finally, Canaccord Genuity Group boosted their target price on shares of Cargojet from C$165.00 to C$173.00 in a research note on Wednesday, February 19th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cargojet presently has a consensus rating of "Buy" and an average target price of C$150.64.

Cargojet Stock Performance

Shares of TSE:CJT traded up C$0.41 during trading on Monday, hitting C$84.44. The stock had a trading volume of 84,607 shares, compared to its average volume of 98,927. The stock has a 50-day simple moving average of C$83.92 and a two-hundred day simple moving average of C$107.42. The stock has a market capitalization of C$1.35 billion, a price-to-earnings ratio of 592.61 and a beta of 0.91. Cargojet has a 12-month low of C$69.60 and a 12-month high of C$144.97. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69.

Cargojet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, April 4th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Thursday, March 20th. Cargojet's dividend payout ratio is presently 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.