TD Issues Positive Forecast for Cargojet (TSE:CJT) Stock Price

Key Points

• TD raised its price target on Cargojet to C$124 (from C$120) with a "buy" rating, implying about a 50.19% upsideC$124.58 (10 buys, 1 hold).
• Cargojet shares jumped ~6.3% to C$82.56 on Wednesday; the company has a market cap of C$1.23 billion, a P/E of 15.76, and reported quarterly EPS of C$0.60 on revenue of C$254.7 million.

Cargojet (TSE:CJT - Get Free Report) had its target price boosted by equities research analysts at TD from C$120.00 to C$124.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD's target price indicates a potential upside of 50.19% from the stock's current price.

Several other analysts have also recently issued reports on CJT. Stifel Nicolaus increased their price objective on Cargojet from C$100.00 to C$120.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Scotiabank reduced their price objective on Cargojet from C$118.00 to C$115.00 and set an "outperform" rating on the stock in a research note on Thursday, April 9th. Raymond James Financial increased their price objective on Cargojet from C$95.00 to C$120.00 and gave the company an "outperform" rating in a research note on Friday, January 23rd. BMO Capital Markets reduced their price objective on Cargojet from C$94.00 to C$85.00 and set a "market perform" rating on the stock in a research note on Wednesday. Finally, National Bank Financial increased their price objective on Cargojet from C$104.00 to C$108.00 and gave the company an "outperform" rating in a research note on Wednesday. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Cargojet has a consensus rating of "Moderate Buy" and an average price target of C$124.58.

Cargojet Trading Up 6.3%

TSE:CJT traded up C$4.86 during trading hours on Wednesday, reaching C$82.56. 113,617 shares of the stock were exchanged, compared to its average volume of 104,020. The company has a quick ratio of 0.79, a current ratio of 1.23 and a debt-to-equity ratio of 155.48. The business has a 50-day moving average of C$84.55 and a two-hundred day moving average of C$84.45. Cargojet has a twelve month low of C$65.60 and a twelve month high of C$113.89. The company has a market capitalization of C$1.23 billion, a price-to-earnings ratio of 15.76 and a beta of 0.87.

Cargojet (TSE:CJT - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported C$0.60 EPS for the quarter. Cargojet had a return on equity of 10.73% and a net margin of 8.08%.The company had revenue of C$254.70 million for the quarter. On average, equities analysts predict 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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