Cargojet (TSE:CJT) Stock Crosses Above 200-Day Moving Average – What’s Next?

Cargojet Inc. (TSE:CJT) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$89.01 and traded as high as C$96.70. Cargojet shares last traded at C$96.23, with a volume of 57,890 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Stifel Nicolaus lowered their price objective on Cargojet from C$120.00 to C$100.00 in a research report on Monday, November 10th. Royal Bank Of Canada decreased their price target on Cargojet from C$151.00 to C$143.00 and set an “outperform” rating on the stock in a research note on Monday, December 22nd. Desjardins upped their price objective on shares of Cargojet from C$117.00 to C$118.00 and gave the company a “buy” rating in a research note on Friday, December 12th. TD Securities decreased their target price on shares of Cargojet from C$160.00 to C$120.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Finally, Raymond James Financial boosted their target price on shares of Cargojet from C$95.00 to C$120.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$127.62.

Cargojet Trading Up 1.4%

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 business’s 50-day simple moving average is C$88.87 and its two-hundred day simple moving average is C$89.01. The stock has a market capitalization of C$1.45 billion, a price-to-earnings ratio of 12.23 and a beta of 0.82.

Cargojet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, January 5th were given a $0.35 dividend. The ex-dividend date of this dividend was Friday, December 19th. This represents a $1.40 annualized dividend and a yield of 1.5%. Cargojet’s dividend payout ratio (DPR) is 17.79%.

Cargojet Company Profile

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.