Cargojet (TSE:CJT) Price Target Cut to C$163.00 by Analysts at CIBC

Cargojet (TSE:CJT) had its price objective cut by stock analysts at CIBC from C$177.00 to C$163.00 in a report released on Wednesday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 51.64% from the stock’s previous close.

Several other analysts also recently weighed in on CJT. Canaccord Genuity Group lifted their target price on shares of Cargojet from C$160.00 to C$165.00 in a report on Wednesday, November 6th. ATB Capital decreased their target price on shares of Cargojet from C$165.00 to C$155.00 in a research report on Wednesday, November 6th. TD Securities cut their price target on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating for the company in a report on Thursday, November 21st. National Bankshares decreased their price objective on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Finally, Royal Bank of Canada increased their target price on shares of Cargojet from C$189.00 to C$193.00 in a report on Wednesday. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cargojet presently has an average rating of “Moderate Buy” and an average target price of C$158.45.

Cargojet Stock Performance

Shares of TSE:CJT traded down C$3.90 on Wednesday, reaching C$107.49. The company’s stock had a trading volume of 98,520 shares, compared to its average volume of 90,010. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79. Cargojet has a 52-week low of C$100.01 and a 52-week high of C$144.97. The stock’s 50-day moving average is C$112.99 and its two-hundred day moving average is C$123.51. The stock has a market capitalization of C$1.72 billion, a P/E ratio of 754.37 and a beta of 0.91.

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.