Scotiabank Cuts Cargojet (TSE:CJT) Price Target to C$139.00

Cargojet (TSE:CJT) had its target price lowered by investment analysts at Scotiabank from C$165.00 to C$139.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 75.39% from the company’s current price.

Several other brokerages have also recently issued reports on CJT. National Bankshares decreased their price target on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Cormark decreased their price objective on Cargojet from C$140.00 to C$120.00 in a report on Wednesday, February 19th. Royal Bank of Canada lifted their target price on Cargojet from C$189.00 to C$193.00 in a report on Wednesday, February 19th. CIBC decreased their price target on Cargojet from C$177.00 to C$163.00 in a research note on Wednesday, February 19th. Finally, Canaccord Genuity Group lifted their price objective on Cargojet from C$165.00 to C$173.00 in a research note on Wednesday, February 19th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cargojet has an average rating of “Buy” and a consensus target price of C$160.20.

Cargojet Stock Performance

Cargojet stock opened at C$79.25 on Wednesday. The business has a 50 day moving average of C$99.67 and a 200-day moving average of C$115.73. The company has a market capitalization of C$1.27 billion, a P/E ratio of 556.18 and a beta of 0.91. Cargojet has a 1 year low of C$76.95 and a 1 year high of C$144.97. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79.

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.