Cargojet (TSE:CJT) Upgraded to “Outperform” by National Bankshares

National Bankshares upgraded shares of Cargojet (TSE:CJTFree Report) from a sector perform rating to an outperform rating in a report released on Friday morning, BayStreet.CA reports. The brokerage currently has C$154.00 price target on the stock, up from their prior price target of C$132.00.

Several other research analysts have also weighed in on the company. Royal Bank of Canada dropped their price target on Cargojet from C$184.00 to C$182.00 and set an outperform rating on the stock in a research report on Tuesday, May 14th. Acumen Capital lifted their target price on Cargojet from C$160.00 to C$165.00 and gave the company a buy rating in a research note on Tuesday, February 27th. BMO Capital Markets increased their price target on shares of Cargojet from C$110.00 to C$115.00 and gave the stock a market perform rating in a research report on Tuesday, February 27th. ATB Capital raised their price target on shares of Cargojet from C$155.00 to C$160.00 and gave the stock an outperform rating in a report on Tuesday, February 27th. Finally, Canaccord Genuity Group upped their price objective on shares of Cargojet from C$145.00 to C$148.00 in a research note on Wednesday, April 24th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cargojet has an average rating of Buy and a consensus price target of C$154.45.

Check Out Our Latest Research Report on Cargojet

Cargojet Stock Performance

Cargojet stock opened at C$131.41 on Friday. Cargojet has a fifty-two week low of C$76.50 and a fifty-two week high of C$131.64. The firm’s 50 day simple moving average is C$116.23 and its 200-day simple moving average is C$115.05. The company has a debt-to-equity ratio of 85.77, a current ratio of 0.96 and a quick ratio of 0.79. The company has a market cap of C$2.16 billion, a P/E ratio of 56.16 and a beta of 1.00.

Cargojet (TSE:CJTGet Free Report) last posted its quarterly earnings data on Monday, April 29th. The company reported C$1.86 earnings per share for the quarter, topping the consensus estimate of C$0.71 by C$1.15. Cargojet had a net margin of 4.48% and a return on equity of 4.78%. The firm had revenue of C$231.20 million for the quarter, compared to analysts’ expectations of C$233.80 million. As a group, equities research analysts predict that Cargojet will post 4.4768237 EPS for the current year.

Cargojet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, July 5th will be paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, June 20th. Cargojet’s dividend payout ratio (DPR) is presently 53.85%.

Insider Transactions at Cargojet

In other news, Senior Officer Pauline Dhillon sold 7,607 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of C$118.50, for a total transaction of C$901,429.50. Following the transaction, the insider now owns 445 shares in the company, valued at approximately C$52,732.50. In other news, Senior Officer Pauline Dhillon sold 7,607 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of C$118.50, for a total transaction of C$901,429.50. Following the completion of the sale, the insider now owns 445 shares in the company, valued at approximately C$52,732.50. Also, Director Arlene Dickinson sold 1,400 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of C$112.00, for a total value of C$156,800.00. 2.71% of the stock is currently owned by company insiders.

About Cargojet

(Get Free Report)

Cargojet Inc provides time sensitive overnight air cargo services and carriers in Canada. It operates domestic air cargo network services between 16 Canadian cities; and provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis operating between points in Canada, North and South America, and Europe.

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Analyst Recommendations for Cargojet (TSE:CJT)

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