Raymond James Financial Forecasts Strong Price Appreciation for Cargojet (TSE:CJT) Stock

Cargojet (TSE:CJT) had its price target lifted by research analysts at Raymond James Financial from C$95.00 to C$120.00 in a research report issued on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s price target would indicate a potential upside of 28.01% from the company’s current price.

A number of other research analysts have also weighed in on CJT. Royal Bank Of Canada decreased their target price on shares of Cargojet from C$151.00 to C$143.00 and set an “outperform” rating on the stock in a research note on Monday, December 22nd. National Bankshares lifted their price objective on Cargojet from C$95.00 to C$108.00 and gave the stock an “outperform” rating in a research report on Friday. Desjardins boosted their price objective on Cargojet from C$117.00 to C$118.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Scotiabank raised their target price on Cargojet from C$105.00 to C$115.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, CIBC reduced their price target on Cargojet from C$142.00 to C$132.00 in a report on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$127.62.

Cargojet Trading Up 0.1%

Shares of CJT stock opened at C$93.74 on Friday. Cargojet has a fifty-two week low of C$65.60 and a fifty-two week high of C$128.19. The company has a debt-to-equity ratio of 98.69, a quick ratio of 0.79 and a current ratio of 0.56. The stock’s fifty day moving average is C$82.97 and its two-hundred day moving average is C$89.93. The firm has a market capitalization of C$1.41 billion, a P/E ratio of 11.91 and a beta of 0.79.

Cargojet (TSE:CJT) last released its earnings results on Wednesday, November 5th. The company reported C$0.32 earnings per share (EPS) for the quarter. The business had revenue of C$219.90 million during the quarter. Cargojet had a net margin of 0.25% and a return on equity of 0.31%. Research analysts expect that Cargojet will post 5.890933 earnings per share for the current fiscal 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.