Cargojet (TSE:CJT) Given New C$120.00 Price Target at ATB Cormark Capital Markets

Cargojet (TSE:CJT) had its price target lifted by analysts at ATB Cormark Capital Markets from C$110.00 to C$120.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target points to a potential upside of 28.99% from the stock’s previous close.

A number of other research firms also recently issued reports on CJT. TD raised their target price on Cargojet from C$118.00 to C$127.00 and gave the stock a “buy” rating in a research report on Wednesday. Scotiabank upped their price target on Cargojet from C$120.00 to C$125.00 and gave the company a “sector outperform” rating in a research report on Wednesday. National Bank Financial increased their price target on Cargojet from C$108.00 to C$109.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. BMO Capital Markets lifted their price objective on Cargojet from C$85.00 to C$90.00 in a report on Wednesday. Finally, Desjardins boosted their price objective on Cargojet from C$126.00 to C$135.00 and gave the company a “buy” rating in a research note on Wednesday. Ten 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, the stock has a consensus rating of “Moderate Buy” and an average target price of C$120.92.

Cargojet Stock Performance

CJT traded down C$0.64 during midday trading on Wednesday, reaching C$93.03. The company had a trading volume of 90,266 shares, compared to its average volume of 89,961. Cargojet has a 12-month low of C$65.60 and a 12-month high of C$105.26. The business has a 50-day moving average price of C$84.71 and a two-hundred day moving average price of C$86.21. The stock has a market cap of C$1.39 billion, a PE ratio of 37.97 and a beta of 1.02. The company has a debt-to-equity ratio of 123.57, a quick ratio of 0.79 and a current ratio of 0.91.

Cargojet (TSE:CJT) last issued its quarterly earnings results on Monday, August 10th. The company reported C$0.47 earnings per share (EPS) for the quarter. Cargojet had a net margin of 3.64% and a return on equity of 4.92%. The company had revenue of C$275.80 million during the quarter. On average, sell-side 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.