Royal Bank of Canada Issues Pessimistic Forecast for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT - Get Free Report) had its price objective reduced by stock analysts at Royal Bank of Canada from C$193.00 to C$183.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Royal Bank of Canada's price target would suggest a potential upside of 117.00% from the stock's previous close.

A number of other research firms have also commented on CJT. Canaccord Genuity Group lifted their target price on shares of Cargojet from C$165.00 to C$173.00 in a report on Wednesday, February 19th. National Bankshares decreased their price objective on Cargojet from C$158.00 to C$151.00 and set an "outperform" rating for the company in a research note on Thursday, January 30th. TD Securities decreased their target price on Cargojet from C$165.00 to C$150.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. CIBC cut their price target on shares of Cargojet from C$163.00 to C$150.00 in a research report on Thursday, April 10th. Finally, BMO Capital Markets reduced their price objective on shares of Cargojet from C$120.00 to C$95.00 in a research note on Tuesday, April 15th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of C$151.18.

Cargojet Trading Down 3.6 %

TSE:CJT traded down C$3.18 on Tuesday, hitting C$84.33. 162,155 shares of the stock were exchanged, compared to its average volume of 99,975. The stock has a market capitalization of C$1.35 billion, a price-to-earnings ratio of 591.83 and a beta of 0.91. The company has a debt-to-equity ratio of 98.69, a quick ratio of 0.79 and a current ratio of 0.56. Cargojet has a 52 week low of C$69.60 and a 52 week high of C$144.97. The company's 50-day moving average price is C$85.81 and its 200 day moving average price is C$108.78.

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.