Cargojet (TSE:CJT) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Cargojet Inc. (TSE:CJT)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$128.12 and traded as high as C$130.23. Cargojet shares last traded at C$128.00, with a volume of 94,390 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CJT shares. Canaccord Genuity Group lifted their target price on shares of Cargojet from C$160.00 to C$165.00 in a research note on Wednesday, November 6th. TD Securities cut their price target on shares of Cargojet from C$176.00 to C$167.00 in a report on Wednesday, November 6th. Acumen Capital raised their price target on shares of Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. Cormark lifted their target price on shares of Cargojet from C$135.00 to C$140.00 in a report on Thursday, August 15th. Finally, ATB Capital dropped their target price on shares of Cargojet from C$165.00 to C$155.00 in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, eight have issued 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 “Moderate Buy” and a consensus price target of C$159.00.

Cargojet Stock Down 2.2 %

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 firm’s 50-day simple moving average is C$134.13 and its 200-day simple moving average is C$128.19. The company has a market capitalization of C$2.07 billion, a price-to-earnings ratio of -134.74 and a beta of 0.91.

Cargojet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, October 4th were given a $0.35 dividend. The ex-dividend date of this dividend was Friday, September 20th. This is a positive change from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.09%. Cargojet’s payout ratio is -147.37%.

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.