Cargojet (TSE:CJT) Shares Cross Above 200-Day Moving Average – Should You Sell?

Cargojet Inc. (TSE:CJT) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$87.67 and traded as high as C$88.95. Cargojet shares last traded at C$86.94, with a volume of 77,925 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CJT shares. Scotiabank lifted their price objective on shares of Cargojet from C$115.00 to C$118.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. National Bank Financial raised their price target on Cargojet from C$95.00 to C$108.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. BMO Capital Markets raised their price target on Cargojet from C$90.00 to C$94.00 and gave the company a “market perform” rating in a research note on Thursday, February 26th. Royal Bank Of Canada decreased their price target on Cargojet from C$151.00 to C$143.00 and set an “outperform” rating for the company in a report on Monday, December 22nd. Finally, Canadian Imperial Bank of Commerce increased their price objective on Cargojet from C$106.00 to C$116.00 in a report on Thursday, February 26th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Cargojet currently has a consensus rating of “Moderate Buy” and an average target price of C$125.45.

Cargojet Stock Up 0.2%

The company has a debt-to-equity ratio of 155.48, a current ratio of 1.23 and a quick ratio of 0.79. The company has a market capitalization of C$1.30 billion, a price-to-earnings ratio of 16.59 and a beta of 0.70. The firm’s 50-day simple moving average is C$92.73 and its two-hundred day simple moving average is C$87.67.

Cargojet (TSE:CJT) last announced its quarterly earnings results on Tuesday, February 24th. The company reported C$1.47 EPS for the quarter. Cargojet had a return on equity of 10.73% and a net margin of 8.08%.The business had revenue of C$284.70 million for the quarter. Sell-side analysts predict that Cargojet Inc. will post 5.890933 EPS for the current fiscal year.

Cargojet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd will be issued a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 1.8%. This is a positive change from Cargojet’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, March 20th. Cargojet’s dividend payout ratio is currently 26.72%.

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.