Scotiabank Has Lowered Expectations for Cargojet (TSE:CJT) Stock Price

Key Points

• Scotiabank lowered its price target on Cargojet to C$115 (from C$118) but kept an outperform rating, implying roughly a 40.7% upside from the current share price of C$81.75.
• Consensus among analysts is positive—nine Buys and one Hold—with an average target of C$125.73, giving the stock an overall Moderate Buy rating.
• Cargojet shares were trading down about 2.4% at C$81.75 (market cap ~C$1.22B), with a P/E of 15.6 and a 12‑month range of C$65.60–C$113.89.

Cargojet (TSE:CJT - Get Free Report) had its price objective reduced by equities research analysts at Scotiabank from C$118.00 to C$115.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Scotiabank's target price would indicate a potential upside of 40.67% from the stock's current price.

Other research analysts also recently issued research reports about the stock. Royal Bank Of Canada dropped their price target on shares of Cargojet from C$151.00 to C$143.00 and set an "outperform" rating on the stock in a research report on Monday, December 22nd. Canadian Imperial Bank of Commerce boosted their price target on shares of Cargojet from C$116.00 to C$122.00 in a research report on Thursday, April 2nd. Stifel Nicolaus boosted their price target on shares of Cargojet from C$100.00 to C$120.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. National Bank Financial boosted their price target on shares of Cargojet from C$95.00 to C$108.00 and gave the stock an "outperform" rating in a research report on Friday, January 23rd. Finally, Desjardins boosted their price target on shares of Cargojet from C$117.00 to C$126.00 in a research report on Thursday, February 26th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$125.73.

Cargojet Trading Down 2.4%

Shares of TSE CJT traded down C$2.05 during midday trading on Thursday, reaching C$81.75. The stock had a trading volume of 38,139 shares, compared to its average volume of 106,901. The firm has a market cap of C$1.22 billion, a price-to-earnings ratio of 15.60 and a beta of 0.86. Cargojet has a twelve month low of C$65.60 and a twelve month high of C$113.89. The company has a debt-to-equity ratio of 155.48, a quick ratio of 0.79 and a current ratio of 1.23. The company's 50 day moving average price is C$89.73 and its 200 day moving average price is C$85.76.

Cargojet (TSE:CJT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported C$1.47 earnings per share (EPS) for the quarter. The firm had revenue of C$284.70 million for the quarter. Cargojet had a net margin of 8.08% and a return on equity of 10.73%. As a group, sell-side analysts expect 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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