Cargojet (OTCMKTS:CGJTF) Shares Gap Up – Time to Buy?

Cargojet Inc. (OTCMKTS:CGJTF)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $58.35, but opened at $60.52. Cargojet shares last traded at $60.52, with a volume of 1 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of Cargojet in a report on Thursday, January 15th. Scotiabank reaffirmed an “outperform” rating on shares of Cargojet in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Cargojet Price Performance

The firm’s fifty day moving average price is $66.09 and its 200 day moving average price is $62.24. The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 1.31. The stock has a market cap of $887.97 million and a PE ratio of 56.76.

Cargojet (OTCMKTS:CGJTF) last released its earnings results on Tuesday, February 24th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.73 by $0.32. Cargojet had a net margin of 7.97% and a return on equity of 10.00%. The firm had revenue of $207.32 million for the quarter, compared to the consensus estimate 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.