Scotiabank Lowers Cargojet (TSE:CJT) Price Target to C$135.00

Cargojet (TSE:CJT) had its target price decreased by investment analysts at Scotiabank from C$140.00 to C$135.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Scotiabank’s target price indicates a potential upside of 44.46% from the company’s current price.

A number of other analysts have also recently commented on the company. TD Securities lifted their price target on Cargojet from C$150.00 to C$160.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Desjardins set a C$149.00 price target on Cargojet and gave the stock a “buy” rating in a research report on Wednesday. Stifel Canada raised Cargojet to a “strong-buy” rating in a report on Wednesday, June 11th. Acumen Capital decreased their price objective on Cargojet from C$175.00 to C$170.00 and set a “buy” rating for the company in a report on Monday, August 11th. Finally, ATB Capital decreased their price objective on Cargojet from C$155.00 to C$145.00 and set an “outperform” rating for the company in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$146.57.

Cargojet Stock Performance

Shares of CJT opened at C$93.45 on Friday. The stock has a 50-day moving average of C$99.47 and a two-hundred day moving average of C$93.75. Cargojet has a one year low of C$69.60 and a one year high of C$144.97. The company has a debt-to-equity ratio of 98.69, a quick ratio of 0.79 and a current ratio of 0.56. The stock has a market cap of C$1.41 billion, a P/E ratio of 10.36 and a beta of 1.26.

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.