Cargojet (TSE:CJT) Stock Price Crosses Below 200 Day Moving Average – Should You Sell?

Cargojet Inc. (TSE:CJT) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$88.27 and traded as low as C$84.90. Cargojet shares last traded at C$88.22, with a volume of 120,049 shares trading hands.

Analysts Set New Price Targets

CJT has been the subject of several recent analyst reports. Scotiabank raised their price objective on shares of Cargojet from C$115.00 to C$118.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Stifel Nicolaus increased their price target on shares of Cargojet from C$100.00 to C$120.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Desjardins lifted their price target on Cargojet from C$117.00 to C$126.00 in a research note on Thursday, February 26th. Canadian Imperial Bank of Commerce boosted their price objective on Cargojet from C$106.00 to C$116.00 in a report on Thursday, February 26th. Finally, Raymond James Financial increased their target price on Cargojet from C$95.00 to C$120.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Cargojet currently has a consensus rating of “Moderate Buy” and an average price target of C$125.45.

Cargojet Price Performance

The company has a debt-to-equity ratio of 155.48, a quick ratio of 0.79 and a current ratio of 1.23. The company’s fifty day moving average price is C$92.48 and its 200 day moving average price is C$88.27. The firm has a market capitalization of C$1.31 billion, a price-to-earnings ratio of 16.84 and a beta of 0.70.

Cargojet (TSE:CJT) last announced its quarterly earnings results on Tuesday, February 24th. The company reported C$1.47 earnings per share for the quarter. Cargojet had a return on equity of 10.73% and a net margin of 8.08%.The business had revenue of C$284.70 million for the quarter. Equities research analysts expect that Cargojet Inc. will post 5.890933 earnings per share for the current year.

Cargojet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, January 5th were given a dividend of $0.35 per share. The ex-dividend date was Friday, December 19th. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. Cargojet’s dividend payout ratio is currently 26.72%.

Cargojet Company Profile

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.