Cargojet (TSE:CJT) Cut to Hold at National Bankshares

Cargojet (TSE:CJT) was downgraded by investment analysts at National Bankshares to a “hold” rating in a research note issued to investors on Thursday, TipRanks reports. They presently have a C$205.00 target price on the stock. National Bankshares’ price objective indicates a potential upside of 5.07% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity lifted their price target on shares of Cargojet from C$220.00 to C$230.00 and gave the company a “na” rating in a report on Tuesday, July 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a C$300.00 price target on shares of Cargojet in a report on Monday, September 27th. Scotiabank boosted their target price on Cargojet from C$225.00 to C$235.00 in a research report on Wednesday, August 4th. Cormark reaffirmed an “outperform” rating and set a C$275.00 price objective on shares of Cargojet in a report on Wednesday, August 4th. Finally, ATB Capital increased their price target on Cargojet to C$235.00 in a research report on Wednesday, August 11th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$252.75.

Shares of TSE:CJT traded down C$2.41 during midday trading on Thursday, reaching C$195.10. 13,880 shares of the company were exchanged, compared to its average volume of 92,154. Cargojet has a fifty-two week low of C$159.80 and a fifty-two week high of C$250.01. The company has a quick ratio of 1.70, a current ratio of 2.05 and a debt-to-equity ratio of 71.32. The stock has a fifty day simple moving average of C$197.88 and a two-hundred day simple moving average of C$185.85. The firm has a market cap of C$3.38 billion and a PE ratio of 86.94.

Cargojet (TSE:CJT) last announced its quarterly earnings data on Tuesday, August 3rd. The company reported C$0.94 EPS for the quarter, missing analysts’ consensus estimates of C$1.03 by C($0.09). The firm had revenue of C$172.10 million for the quarter, compared to the consensus estimate of C$160.90 million. As a group, analysts forecast that Cargojet will post 6.2200001 earnings per share for the current year.

In related news, Senior Officer Paul David Rinaldo sold 2,000 shares of the stock in a transaction dated Tuesday, September 28th. The shares were sold at an average price of C$206.70, for a total value of C$413,400.00. Following the completion of the transaction, the insider now owns 2,625 shares of the company’s stock, valued at C$542,587.50.

Cargojet Company Profile

Cargojet Inc provides time sensitive overnight air cargo services in Canada. Its air cargo business activities include operation of domestic overnight air cargo services between fourteen cities in North America; and provision of dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis operating between points in Canada, North and South America, and Europe.

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Analyst Recommendations for Cargojet (TSE:CJT)

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