TD Securities Cuts Cargojet (TSE:CJT) Price Target to C$120.00

Cargojet (TSE:CJT) had its price objective reduced by TD Securities from C$160.00 to C$120.00 in a research report released on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the stock. CIBC lowered their price objective on shares of Cargojet from C$142.00 to C$132.00 in a research note on Wednesday, October 8th. ATB Capital decreased their price target on Cargojet from C$155.00 to C$145.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. National Bankshares lowered their price target on Cargojet from C$123.00 to C$120.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 15th. Acumen Capital cut 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, Raymond James Financial set a C$132.00 target price on Cargojet and gave the company an “outperform” rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$137.54.

Cargojet Stock Performance

Shares of CJT opened at C$69.33 on Thursday. The firm has a market capitalization of C$1.08 billion, a PE ratio of 8.81 and a beta of 0.85. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69. The firm has a 50-day moving average price of C$89.80 and a 200 day moving average price of C$94.22. Cargojet has a 52-week low of C$65.60 and a 52-week high of C$139.54.

Cargojet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Friday, September 19th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.0%. Cargojet’s payout ratio is 17.79%.

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.