Cargojet Inc (CJT) Given Consensus Recommendation of “Buy” by Brokerages
Cargojet Inc (TSE:CJT) has been assigned an average rating of “Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$55.60.
Separately, Raymond James Financial, Inc. reduced their price objective on Cargojet from C$57.00 to C$55.00 and set an “outperform” rating for the company in a report on Tuesday, May 16th.
In other Cargojet news, insider Paul David Rinaldo sold 5,903 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of C$46.75, for a total transaction of C$275,965.25.
Shares of Cargojet (TSE:CJT) traded up 0.66% during mid-day trading on Tuesday, hitting $50.71. The company had a trading volume of 26,939 shares. The firm has a market capitalization of $544.83 million and a P/E ratio of 905.54. The firm has a 50-day moving average price of $47.96 and a 200 day moving average price of $46.72. Cargojet has a 12 month low of $33.35 and a 12 month high of $52.56.
Cargojet Inc is a provider of time sensitive overnight air cargo services. The Company’s cargo business comprises operating a domestic overnight air cargo co-load network between over 10 Canadian cities; providing aircraft to customers on an aircraft, crew, maintenance and insurance (ACMI) basis, operating between points in Canada, the United States and Europe; operating scheduled international routes for multiple cargo customers between the United States and Bermuda, and between Canada and Europe, and providing dedicated aircraft to customers on an adhoc charter basis operating between points in Canada, the United States and other international destinations.
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