Cargojet (OTCMKTS:CGJTF) Shares Gap Up – Should You Buy?

Shares of Cargojet Inc. (OTCMKTS:CGJTF) gapped up prior to trading on Friday . The stock had previously closed at $70.0582, but opened at $72.4640. Cargojet shares last traded at $72.4640, with a volume of 1 shares changing hands.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Scotiabank reaffirmed an “outperform” rating on shares of Cargojet in a research report on Wednesday, January 21st. BMO Capital Markets restated a “market perform” rating on shares of Cargojet in a research note on Thursday, January 15th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Cargojet has an average rating of “Moderate Buy”.

Cargojet Price Performance

The stock’s 50-day moving average is $65.81 and its 200 day moving average is $64.39.

Cargojet Company Profile

Cargojet Inc is a Canadian-based air cargo carrier specializing in time-sensitive freight transportation. The company operates scheduled and on-demand cargo services throughout Canada and into international markets, providing next-flight-out and overnight delivery for a broad range of shippers. Cargojet’s fleet—anchored by Boeing 767-300ER freighters—is configured to handle standard palletized freight as well as specialized shipments such as temperature-controlled pharmaceuticals and high-value electronics.

Headquartered in Mississauga, Ontario, Cargojet serves major Canadian gateways including Toronto, Vancouver and Montreal, and extends its network into the United States, the Caribbean and select Latin American destinations.