Royal Bank of Canada Forecasts Strong Price Appreciation for Cargojet (TSE:CJT) Stock

Cargojet (TSE:CJT) had its price objective boosted by Royal Bank of Canada from C$189.00 to C$193.00 in a research note released on Wednesday morning,BayStreet.CA reports.

A number of other research firms have also recently weighed in on CJT. ATB Capital lowered their price objective on Cargojet from C$165.00 to C$155.00 in a research report on Wednesday, November 6th. Canaccord Genuity Group lifted their target price on Cargojet from C$160.00 to C$165.00 in a research note on Wednesday, November 6th. TD Securities lowered their price target on Cargojet from C$167.00 to C$165.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Scotiabank cut their price objective on shares of Cargojet from C$170.00 to C$165.00 in a report on Wednesday. Finally, National Bankshares lowered their target price on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$158.45.

Cargojet Price Performance

Shares of Cargojet stock opened at C$101.34 on Wednesday. The stock’s fifty day moving average is C$112.62 and its 200 day moving average is C$122.88. Cargojet has a one year low of C$100.01 and a one year high of C$144.97. The company has a debt-to-equity ratio of 98.69, a quick ratio of 0.79 and a current ratio of 0.56. The stock has a market cap of C$1.62 billion, a P/E ratio of 711.21 and a beta of 0.91.

Cargojet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.38%. Cargojet’s payout ratio is 982.53%.

Cargojet Company Profile

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.