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

Cargojet (TSE:CJT) had its price target upped by investment analysts at Canaccord Genuity Group from C$160.00 to C$165.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. Canaccord Genuity Group’s price target would suggest a potential upside of 25.10% from the company’s current price.

CJT has been the subject of a number of other reports. Scotiabank lowered Cargojet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Cormark increased their price target on shares of Cargojet from C$135.00 to C$140.00 in a research report on Thursday, August 15th. ATB Capital upped their price objective on Cargojet from C$160.00 to C$165.00 in a research note on Thursday, August 15th. National Bankshares upped their price target on Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Acumen Capital lifted their price objective on Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$159.00.

Cargojet Stock Up 1.7 %

Shares of CJT traded up C$2.16 during trading hours on Wednesday, hitting C$131.89. 40,939 shares of the company were exchanged, compared to its average volume of 55,063. 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 cap of C$2.13 billion, a PE ratio of -138.83 and a beta of 0.91. The firm’s 50 day moving average is C$133.49 and its 200-day moving average is C$126.86. Cargojet has a 52 week low of C$82.22 and a 52 week high of C$144.97.

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