Cargojet (OTCMKTS:CGJTF) Shares Gap Down – Time to Sell?

Cargojet Inc. (OTCMKTS:CGJTF) shares gapped down prior to trading on Wednesday . The stock had previously closed at $70.90, but opened at $65.76. Cargojet shares last traded at $65.76, with a volume of 100 shares changing hands.

Wall Street Analysts Forecast Growth

CGJTF has been the subject of a number of research analyst reports. Scotiabank reiterated an “outperform” rating on shares of Cargojet in a report on Wednesday, January 21st. BMO Capital Markets reissued a “market perform” rating on shares of Cargojet in a report on Thursday, January 15th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Cargojet Trading Down 4.8%

The company has a fifty day moving average price of $66.46 and a 200 day moving average price of $64.34.

Cargojet (OTCMKTS:CGJTF) last released its earnings results on Tuesday, February 24th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.32. The company had revenue of $207.32 million during the quarter, compared to analysts’ expectations of $251.30 million.

Cargojet Company Profile

Cargojet Inc is a Canadian-based air cargo carrier specializing in time-sensitive freight transportation. The company operates scheduled and on-demand cargo services throughout Canada and into international markets, providing next-flight-out and overnight delivery for a broad range of shippers. Cargojet’s fleet—anchored by Boeing 767-300ER freighters—is configured to handle standard palletized freight as well as specialized shipments such as temperature-controlled pharmaceuticals and high-value electronics.

Headquartered in Mississauga, Ontario, Cargojet serves major Canadian gateways including Toronto, Vancouver and Montreal, and extends its network into the United States, the Caribbean and select Latin American destinations.