Cargojet Inc. (TSE:CJT) Senior Officer Ajay Kumar Virmani Sells 7,522 Shares

Cargojet Inc. (TSE:CJT) Senior Officer Ajay Kumar Virmani sold 7,522 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of C$140.60, for a total value of C$1,057,623.29.

Ajay Kumar Virmani also recently made the following trade(s):

• On Monday, June 24th, Ajay Kumar Virmani sold 950 shares of Cargojet stock. The shares were sold at an average price of C$133.25, for a total value of C$126,587.50.

Cargojet Price Performance

CJT traded up C$0.51 during trading on Wednesday, reaching C$139.96. The company’s stock had a trading volume of 25,916 shares, compared to its average volume of 54,156. The company has a quick ratio of 0.79, a current ratio of 0.96 and a debt-to-equity ratio of 85.77. The firm has a fifty day simple moving average of C$121.42 and a two-hundred day simple moving average of C$117.34. Cargojet Inc. has a 1 year low of C$76.50 and a 1 year high of C$143.64. The company has a market cap of C$2.31 billion, a price-to-earnings ratio of 59.87 and a beta of 1.00.

Cargojet (TSE:CJT) last announced its quarterly earnings results on Monday, April 29th. The company reported C$1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.71 by C$1.15. The business had revenue of C$231.20 million during the quarter, compared to the consensus estimate of C$233.80 million. Cargojet had a net margin of 4.48% and a return on equity of 4.78%. As a group, analysts anticipate that Cargojet Inc. will post 4.4768237 EPS for the current year.

Cargojet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.315 per share. The ex-dividend date is Thursday, June 20th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.90%. Cargojet’s dividend payout ratio is currently 53.85%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CJT. Acumen Capital upped their target price on Cargojet from C$165.00 to C$175.00 and gave the company a “buy” rating in a research note on Wednesday. TD Securities upped their target price on Cargojet from C$162.00 to C$173.00 in a research note on Wednesday, June 12th. National Bank Financial raised Cargojet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 13th. Royal Bank of Canada cut their target price on Cargojet from C$184.00 to C$182.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 14th. Finally, National Bankshares upgraded Cargojet from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$132.00 to C$154.00 in a report on Friday, June 14th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$155.36.

About Cargojet

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.