Cargojet Inc (TSE:CJT) shares were down 1.1% during trading on Friday . The company traded as low as C$53.34 and last traded at C$54.12. Approximately 10,143 shares changed hands during trading, a decline of 60% from the average daily volume of 25,625 shares. The stock had previously closed at C$53.54.

A number of research analysts have recently commented on CJT shares. CIBC increased their target price on Cargojet from C$56.00 to C$60.00 in a research report on Tuesday, November 14th. Acumen Capital increased their target price on Cargojet from C$56.00 to C$60.00 in a research report on Tuesday, November 14th. Royal Bank Of Canada increased their target price on Cargojet from C$57.00 to C$60.00 and gave the company an “outperform” rating in a research report on Tuesday, November 14th. Finally, National Bank Financial increased their target price on Cargojet from C$53.00 to C$55.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 14th.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Wednesday, December 20th will be issued a dividend of $0.192 per share. The ex-dividend date is Tuesday, December 19th. This represents a $0.77 annualized dividend and a yield of 1.43%. Cargojet’s payout ratio is presently 78.39%.

In related news, insider George Stephen Sugar sold 1,431 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of C$50.75, for a total transaction of C$72,623.25. Also, insider Ajay Kumar Virmani sold 7,366 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of C$50.31, for a total value of C$370,583.46. Insiders have sold a total of 33,827 shares of company stock worth $1,700,055 in the last 90 days.

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About Cargojet

Cargojet Inc is a provider of time sensitive overnight air cargo services. The Company’s cargo business comprises operating a domestic overnight air cargo co-load network between over 10 Canadian cities; providing aircraft to customers on an aircraft, crew, maintenance and insurance (ACMI) basis, operating between points in Canada, the United States and Europe; operating scheduled international routes for multiple cargo customers between the United States and Bermuda, and between Canada and Europe, and providing dedicated aircraft to customers on an adhoc charter basis operating between points in Canada, the United States and other international destinations.

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