TD Cuts Cargojet (TSE:CJT) Price Target to C$118.00

Cargojet (TSE:CJT) had its price target lowered by equities research analysts at TD from C$124.00 to C$118.00 in a report issued on Wednesday,BayStreet.CA reports. TD’s price target suggests a potential upside of 39.64% from the stock’s previous close.

Several other equities research analysts have also issued reports on CJT. Royal Bank Of Canada lowered their target price on shares of Cargojet from C$143.00 to C$140.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Scotiabank reduced their price objective on shares of Cargojet from C$118.00 to C$115.00 and set an “outperform” rating on the stock in a research report on Thursday, April 9th. Canadian Imperial Bank of Commerce raised their price objective on shares of Cargojet from C$116.00 to C$122.00 in a research note on Thursday, April 2nd. BMO Capital Markets dropped their target price on Cargojet from C$94.00 to C$85.00 and set a “market perform” rating for the company in a research report on Wednesday, May 6th. Finally, National Bank Financial boosted their target price on Cargojet from C$108.00 to C$109.00 and gave the company an “outperform” rating in a research report on Tuesday. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$124.17.

Cargojet Trading Up 0.8%

TSE:CJT traded up C$0.66 during midday trading on Wednesday, hitting C$84.50. 29,237 shares of the company traded hands, compared to its average volume of 91,779. The firm’s fifty day moving average is C$83.71 and its 200-day moving average is C$86.40. Cargojet has a 12-month low of C$65.60 and a 12-month high of C$105.60. The firm has a market capitalization of C$1.26 billion, a P/E ratio of 34.49 and a beta of 1.02. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 123.57.

Cargojet (TSE:CJT) last posted its quarterly earnings data on Monday, May 4th. The company reported C$0.60 EPS for the quarter. Cargojet had a net margin of 3.64% and a return on equity of 4.92%. The company had revenue of C$254.70 million during the quarter. On average, sell-side analysts predict 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.