Cargojet (TSE:CJT) Upgraded at Stifel Canada

Stifel Canada upgraded shares of Cargojet (TSE:CJT) to a strong-buy rating in a report published on Wednesday,Zacks.com reports.

CJT has been the topic of a number of other research reports. Stifel Nicolaus set a C$125.00 target price on Cargojet and gave the company a “buy” rating in a report on Thursday. Cormark reduced their target price on Cargojet from C$140.00 to C$120.00 in a research report on Wednesday, February 19th. Scotiabank cut their price objective on Cargojet from C$165.00 to C$139.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. CIBC cut their price objective on Cargojet from C$163.00 to C$150.00 in a report on Thursday, April 10th. Finally, Royal Bank of Canada lowered their target price on Cargojet from C$183.00 to C$177.00 in a research note on Monday, April 28th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$148.50.

Cargojet Stock Down 0.6%

Cargojet stock opened at C$93.16 on Wednesday. The company has a 50-day simple moving average of C$87.53 and a 200-day simple moving average of C$99.08. The firm has a market capitalization of C$1.49 billion, a P/E ratio of 653.80 and a beta of 0.91. The company has a debt-to-equity ratio of 98.69, a quick ratio of 0.79 and a current ratio of 0.56. Cargojet has a one year low of C$69.60 and a one year high of C$144.97.

Cargojet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 4th. Stockholders of record on Friday, July 4th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Friday, June 20th. Cargojet’s dividend payout ratio (DPR) is presently 982.53%.

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.