Scotiabank Has Lowered Expectations for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its price target decreased by equities research analysts at Scotiabank from C$170.00 to C$165.00 in a research note issued on Wednesday,BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 53.50% from the company’s previous close.

Several other analysts have also commented on the company. ATB Capital decreased their price target on Cargojet from C$165.00 to C$155.00 in a research note on Wednesday, November 6th. Canaccord Genuity Group upped their target price on shares of Cargojet from C$160.00 to C$165.00 in a report on Wednesday, November 6th. TD Securities cut their price target on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating for the company in a report on Thursday, November 21st. National Bankshares cut their target price on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Finally, CIBC increased their target price on Cargojet from C$172.00 to C$177.00 in a report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$158.45.

Cargojet Price Performance

TSE CJT traded down C$3.90 on Wednesday, reaching C$107.49. The company’s stock had a trading volume of 98,520 shares, compared to its average volume of 90,010. The firm has a market cap of C$1.72 billion, a PE ratio of 754.37 and a beta of 0.91. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69. Cargojet has a 52 week low of C$100.01 and a 52 week high of C$144.97. The business has a 50-day moving average price of C$112.99 and a 200 day moving average price of C$123.51.

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.