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

Key Points

• Royal Bank of Canada lowered its target for Cargojet from C$143 to C$140 but kept an "outperform" rating, with the new target implying a potential upside of 72.58% from the prior close.
• Consensus among analysts is bullish—nine Buys and one Hold—giving Cargojet a "Moderate Buy" average rating with an average price target of C$125.45.
• Cargojet shares traded at C$81.12 (down 0.2%) with a market cap of C$1.21B and P/E of 15.48, while the company shows high leverage (debt-to-equity of 155.48).

Cargojet (TSE:CJT - Get Free Report) had its target price lowered by investment analysts at Royal Bank Of Canada from C$143.00 to C$140.00 in a research note issued on Monday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective points to a potential upside of 72.58% from the stock's previous close.

A number of other equities research analysts have also recently weighed in on CJT. Stifel Nicolaus lifted their price target on shares of Cargojet from C$100.00 to C$120.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Desjardins lifted their price target on shares of Cargojet from C$117.00 to C$126.00 in a research report on Thursday, February 26th. Scotiabank dropped their price target on shares of Cargojet from C$118.00 to C$115.00 and set an "outperform" rating for the company in a research report on Thursday. BMO Capital Markets lifted their price target on shares of Cargojet from C$90.00 to C$94.00 and gave the company a "market perform" rating in a research report on Thursday, February 26th. Finally, National Bank Financial lifted their price target on shares of Cargojet from C$95.00 to C$108.00 and gave the company an "outperform" rating in a research report on Friday, January 23rd. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of C$125.45.

Cargojet Trading Down 0.2%

Cargojet stock traded down C$0.19 during midday trading on Monday, hitting C$81.12. 67,437 shares of the stock were exchanged, compared to its average volume of 106,978. Cargojet has a fifty-two week low of C$65.60 and a fifty-two week high of C$113.89. The stock has a market capitalization of C$1.21 billion, a price-to-earnings ratio of 15.48 and a beta of 0.86. The stock's 50-day simple moving average is C$89.23 and its 200 day simple moving average is C$85.45. The company has a current ratio of 1.23, a quick ratio of 0.79 and a debt-to-equity ratio of 155.48.

Cargojet (TSE:CJT - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported C$1.47 earnings per share (EPS) for the quarter. Cargojet had a net margin of 8.08% and a return on equity of 10.73%. The firm had revenue of C$284.70 million during the quarter. On average, equities analysts anticipate that Cargojet will post 5.890933 EPS 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.

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