Scotiabank Cuts Cargojet (TSE:CJT) Price Target to C$170.00

Cargojet (TSE:CJT) had its price objective cut by equities research analysts at Scotiabank from C$174.00 to C$170.00 in a research note issued on Thursday,BayStreet.CA reports. Scotiabank’s price objective suggests a potential upside of 35.95% from the company’s current price.

Several other research analysts have also commented on the stock. Canaccord Genuity Group raised their price objective on shares of Cargojet from C$160.00 to C$165.00 in a research note on Wednesday, November 6th. ATB Capital lowered their price objective on shares of Cargojet from C$165.00 to C$155.00 in a research note on Wednesday, November 6th. National Bankshares lowered their price objective on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating for the company in a research note on Thursday. TD Securities decreased 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 research note on Thursday, November 21st. Finally, CIBC lifted their price target on shares of Cargojet from C$172.00 to C$177.00 in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$160.50.

Cargojet Trading Down 1.5 %

Cargojet stock traded down C$1.89 during midday trading on Thursday, hitting C$125.05. 13,216 shares of the stock were exchanged, compared to its average volume of 80,372. Cargojet has a fifty-two week low of C$100.01 and a fifty-two week high of C$144.97. The stock has a market capitalization of C$2.02 billion, a price-to-earnings ratio of -131.63 and a beta of 0.91. The stock’s 50-day simple moving average is C$114.58 and its 200 day simple moving average is C$125.17. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84.

Cargojet (TSE:CJT) last announced its quarterly earnings results on Monday, November 4th. The company reported C$1.48 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.14 by C$0.34. Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. During the same quarter in the previous year, the firm earned $0.30 earnings per share. On average, equities analysts anticipate that Cargojet will post 5.890933 EPS for the current year.

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.