Stifel Nicolaus Forecasts Strong Price Appreciation for Cargojet (TSE:CJT) Stock

Cargojet (TSE:CJT) had its target price increased by Stifel Nicolaus from C$100.00 to C$120.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 21.31% from the stock’s current price.

A number of other brokerages also recently issued reports on CJT. Royal Bank Of Canada cut their target price on Cargojet from C$151.00 to C$143.00 and set an “outperform” rating for the company in a research note on Monday, December 22nd. Canadian Imperial Bank of Commerce lifted their target price on shares of Cargojet from C$106.00 to C$116.00 in a research note on Thursday. Desjardins increased their price objective on shares of Cargojet from C$117.00 to C$118.00 and gave the stock a “buy” rating in a report on Friday, December 12th. TD Securities decreased their price target on shares of Cargojet from C$160.00 to C$120.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Finally, Scotiabank increased their price objective on shares of Cargojet from C$115.00 to C$118.00 and gave the stock an “outperform” rating in a research report on Thursday. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$125.45.

Cargojet Stock Performance

Shares of Cargojet stock traded up C$6.54 on Thursday, hitting C$98.92. The stock had a trading volume of 213,616 shares, compared to its average volume of 121,744. The company’s 50 day moving average price is C$91.01 and its 200 day moving average price is C$88.91. The stock has a market cap of C$1.49 billion, a price-to-earnings ratio of 12.57 and a beta of 0.82. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69. Cargojet has a 52-week low of C$65.60 and a 52-week high of C$113.89.

Cargojet (TSE:CJT) last posted its quarterly earnings data on Tuesday, February 24th. The company reported C$1.47 earnings per share for the quarter. The business had revenue of C$284.70 million during the quarter. Cargojet had a return on equity of 0.31% and a net margin of 0.25%. On average, research analysts anticipate that Cargojet will post 5.890933 EPS for the current year.

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.