Cargojet (TSE:CJT) Stock Passes Below 200-Day Moving Average – Should You Sell?

Cargojet Inc. (TSE:CJT) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$88.27 and traded as low as C$84.90. Cargojet shares last traded at C$88.22, with a volume of 120,049 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CJT shares. Desjardins raised their target price on Cargojet from C$117.00 to C$126.00 in a report on Thursday, February 26th. Scotiabank lifted their price objective on shares of Cargojet from C$115.00 to C$118.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. BMO Capital Markets boosted their target price on Cargojet from C$90.00 to C$94.00 and gave the stock a “market perform” rating in a research report on Thursday, February 26th. Raymond James Financial increased their price objective on shares of 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, Royal Bank Of Canada cut their target price on Cargojet from C$151.00 to C$143.00 and set an “outperform” rating on the stock in a research report on Monday, December 22nd. 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 MarketBeat.com, Cargojet presently has a consensus rating of “Moderate Buy” and a consensus price target of C$125.45.

Cargojet Price Performance

The firm has a 50 day simple moving average of C$92.67 and a 200-day simple moving average of C$88.17. The company has a quick ratio of 0.79, a current ratio of 1.23 and a debt-to-equity ratio of 155.48. The company has a market cap of C$1.32 billion, a PE ratio of 16.89 and a beta of 0.70.

Cargojet (TSE:CJT) last issued its quarterly earnings results on Tuesday, February 24th. The company reported C$1.47 earnings per share for the quarter. Cargojet had a return on equity of 10.73% and a net margin of 8.08%.The business had revenue of C$284.70 million during the quarter. As a group, research analysts predict that Cargojet Inc. will post 5.890933 earnings per share for the current fiscal year.

Cargojet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, January 5th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, December 19th. Cargojet’s dividend payout ratio is presently 26.72%.

Cargojet Company Profile

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.