Cargojet (OTCMKTS:CGJTF) Shares Gap Down – Time to Sell?

Cargojet Inc. (OTCMKTS:CGJTF)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $68.1765, but opened at $63.90. Cargojet shares last traded at $63.90, with a volume of 100 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Scotiabank restated an “outperform” rating on shares of Cargojet in a report on Wednesday, January 21st. BMO Capital Markets reaffirmed a “market perform” rating on shares of Cargojet in a report on Thursday, January 15th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Cargojet Price Performance

The company has a 50-day moving average price of $67.78 and a 200-day moving average price of $64.03.

Cargojet (OTCMKTS:CGJTF) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.32. The company had revenue of $207.32 million for the quarter, compared to analysts’ expectations of $251.30 million.

About Cargojet

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.