Cargojet (OTCMKTS:CGJTF) Shares Gap Up – Here’s Why

Shares of Cargojet Inc. (OTCMKTS:CGJTF) gapped up prior to trading on Wednesday . The stock had previously closed at $62.04, but opened at $67.64. Cargojet shares last traded at $67.64, with a volume of 100 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. TD Securities reaffirmed a “buy” rating on shares of Cargojet in a research report on Wednesday, May 6th. Scotiabank reissued an “outperform” rating on shares of Cargojet in a report on Wednesday. Finally, BMO Capital Markets restated a “market perform” rating on shares of Cargojet in a research report on Wednesday. Two 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 stock presently has a consensus rating of “Moderate Buy”.

Cargojet Price Performance

The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 1.20. The business’s fifty day moving average is $60.37 and its 200 day moving average is $62.48. The company has a market cap of $989.74 million and a P/E ratio of 44.58.

Cargojet (OTCMKTS:CGJTF) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.09). Cargojet had a net margin of 4.48% and a return on equity of 6.73%. The firm had revenue of $194.16 million for the quarter, compared to the consensus estimate of $184.05 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.