Cargojet (TSE:CJT) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Cargojet (TSE:CJT) to a moderate buy rating in a report published on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on CJT. ATB Capital decreased their price objective on shares of Cargojet from C$155.00 to C$145.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Stifel Nicolaus boosted their price objective on shares of Cargojet from C$125.00 to C$130.00 and gave the company a “buy” rating in a report on Monday, August 11th. TD Securities boosted their price objective on shares of Cargojet from C$150.00 to C$160.00 and gave the company a “buy” rating in a report on Friday, August 8th. Scotiabank boosted their price objective on shares of Cargojet from C$138.00 to C$140.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Stifel Canada upgraded shares of Cargojet to a “strong-buy” rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$146.77.

Cargojet Trading Up 3.4%

CJT opened at C$103.04 on Thursday. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79. The company has a market cap of C$1.55 billion, a price-to-earnings ratio of 11.42 and a beta of 1.26. The firm has a 50 day simple moving average of C$101.74 and a 200 day simple moving average of C$93.21. Cargojet has a fifty-two week low of C$69.60 and a fifty-two week high of C$144.97.

Cargojet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 4th. Stockholders of record on Friday, July 4th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, June 20th. Cargojet’s dividend payout ratio is 15.52%.

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.