Canaccord Genuity Group Raises Cargojet (TSE:CJT) Price Target to C$165.00

Cargojet (TSE:CJT) had its target price raised by analysts at Canaccord Genuity Group from C$160.00 to C$165.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s price objective would suggest a potential upside of 20.39% from the company’s current price.

Several other brokerages also recently issued reports on CJT. TD Securities lowered their price target on Cargojet from C$176.00 to C$167.00 in a research report on Wednesday. National Bankshares lifted their price target on Cargojet from C$154.00 to C$158.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. ATB Capital upped their price target on Cargojet from C$160.00 to C$165.00 in a report on Thursday, August 15th. Acumen Capital raised their price objective on shares of Cargojet from C$175.00 to C$178.00 in a research note on Thursday, August 15th. Finally, Cormark upped their target price on shares of Cargojet from C$135.00 to C$140.00 in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$159.00.

Cargojet Stock Up 3.7 %

Shares of CJT stock opened at C$137.05 on Wednesday. The stock’s 50 day simple moving average is C$133.73 and its 200 day simple moving average is C$127.21. Cargojet has a twelve month low of C$82.22 and a twelve month high of C$144.97. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.79 and a current ratio of 0.59. The company has a market capitalization of C$2.21 billion, a price-to-earnings ratio of -144.26 and a beta of 0.91.

Cargojet (TSE:CJT) last released its quarterly earnings results on Tuesday, August 13th. The company reported C($0.05) EPS for the quarter, missing analysts’ consensus estimates of C$1.10 by C($1.15). The firm had revenue of C$230.80 million during the quarter, compared to the consensus estimate of C$239.77 million. Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. As a group, research analysts predict that Cargojet will post 5.890933 EPS for the current year.

Cargojet Company Profile

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.