Desjardins Forecasts Strong Price Appreciation for Cargojet (TSE:CJT) Stock

Cargojet (TSE:CJT) had its price target lifted by analysts at Desjardins from C$117.00 to C$126.00 in a note issued to investors on Thursday,BayStreet.CA reports. Desjardins’ price target would indicate a potential upside of 27.38% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Canadian Imperial Bank of Commerce boosted their price target on Cargojet from C$106.00 to C$116.00 in a research note on Thursday. Stifel Nicolaus lifted their price target on shares of Cargojet from C$100.00 to C$120.00 and gave the stock a “buy” rating in a research note on Thursday. National Bank Financial upped their price objective on Cargojet from C$95.00 to C$108.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Raymond James Financial lifted their target price on Cargojet from C$95.00 to C$120.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Finally, Scotiabank upped their price target on Cargojet from C$115.00 to C$118.00 and gave the stock an “outperform” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$125.45.

Cargojet Stock Up 7.1%

CJT traded up C$6.54 during trading on Thursday, hitting C$98.92. 213,616 shares of the company’s stock traded hands, compared to its average volume of 121,744. The stock has a market capitalization of C$1.49 billion, a price-to-earnings ratio of 12.57 and a beta of 0.82. The company’s 50 day simple moving average is C$91.01 and its two-hundred day simple moving average is C$88.91. Cargojet has a 12-month low of C$65.60 and a 12-month high of C$113.89. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69.

Cargojet (TSE:CJT) last announced its quarterly earnings results on Tuesday, February 24th. The company reported C$1.47 earnings per share (EPS) for the quarter. Cargojet had a return on equity of 0.31% and a net margin of 0.25%.The firm had revenue of C$284.70 million for the quarter. Analysts predict 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.