Desjardins Issues Positive Forecast for Cargojet (TSE:CJT) Stock Price

by · The Markets Daily

Cargojet (TSE:CJT – Get Free Report) had its price objective lifted by Desjardins from C$117.00 to C$118.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target indicates a potential upside of 54.05% from the stock’s previous close.

CJT has been the topic of several other reports. TD Securities dropped their target price on Cargojet from C$160.00 to C$120.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Stifel Nicolaus dropped their price objective on shares of Cargojet from C$120.00 to C$100.00 in a research note on Monday, November 10th. CIBC decreased their target price on shares of Cargojet from C$142.00 to C$132.00 in a research note on Wednesday, October 8th. Scotiabank lowered their price target on shares of Cargojet from C$140.00 to C$135.00 in a report on Friday, October 3rd. Finally, National Bankshares dropped their price target on shares of Cargojet from C$123.00 to C$120.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company’s stock. According to data from MarketBeat, Cargojet has an average rating of “Buy” and an average target price of C$130.77.

Get Our Latest Research Report on CJT

Cargojet Trading Down 0.1%

Shares of Cargojet stock traded down C$0.10 during trading hours on Friday, hitting C$76.60. The company’s stock had a trading volume of 68,583 shares, compared to its average volume of 98,827. The business has a fifty day moving average of C$79.43 and a 200 day moving average of C$92.11. Cargojet has a 1-year low of C$65.60 and a 1-year high of C$128.19. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69. The company has a market capitalization of C$1.16 billion, a PE ratio of 9.73 and a beta of 0.88.

Cargojet (TSE:CJT – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported C$0.32 earnings per share (EPS) for the quarter. The firm had revenue of C$219.90 million during the quarter. Cargojet had a return on equity of 0.31% and a net margin of 0.25%. As a group, equities analysts forecast that Cargojet will post 5.890933 EPS for the current year.

About Cargojet

(Get Free Report)

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.

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