ATB Capital Raises Cargojet (TSE:CJT) Price Target to C$165.00

Cargojet (TSE:CJT) had its price target upped by ATB Capital from C$160.00 to C$165.00 in a research note issued to investors on Thursday, BayStreet.CA reports.

CJT has been the subject of a number of other reports. Canaccord Genuity Group boosted their price target on Cargojet from C$150.00 to C$156.00 in a report on Wednesday, July 24th. Cormark lifted their target price on Cargojet from C$135.00 to C$140.00 in a research report on Thursday. National Bankshares raised Cargojet from a sector perform rating to an outperform rating and boosted their target price for the company from C$132.00 to C$154.00 in a research report on Friday, June 14th. CIBC upped their target price on shares of Cargojet from C$159.00 to C$172.00 and gave the stock an outperform rating in a research note on Monday, June 17th. Finally, National Bank Financial raised shares of Cargojet from a hold rating to a strong-buy rating in a report on Thursday, June 13th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of C$159.55.

Cargojet Trading Down 1.1 %

Shares of Cargojet stock opened at C$124.44 on Thursday. The firm’s 50 day simple moving average is C$128.89 and its two-hundred day simple moving average is C$119.84. The firm has a market capitalization of C$2.05 billion, a price-to-earnings ratio of 53.18 and a beta of 0.90. Cargojet has a 12-month low of C$76.50 and a 12-month high of C$143.64. The company has a current ratio of 0.96, a quick ratio of 0.79 and a debt-to-equity ratio of 85.77.

Cargojet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be given a $0.35 dividend. This is an increase from Cargojet’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, September 20th. This represents a $1.40 annualized dividend and a yield of 1.13%. Cargojet’s dividend payout ratio is 53.85%.

Insider Activity at Cargojet

In other news, Senior Officer Pauline Dhillon sold 7,607 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of C$118.50, for a total transaction of C$901,429.50. Following the transaction, the insider now directly owns 445 shares in the company, valued at C$52,732.50. In other Cargojet news, Director Arlene Dickinson sold 1,400 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of C$112.00, for a total value of C$156,800.00. Also, Senior Officer Pauline Dhillon sold 7,607 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of C$118.50, for a total value of C$901,429.50. Following the sale, the insider now directly owns 445 shares in the company, valued at approximately C$52,732.50. Insiders have sold 18,979 shares of company stock worth $2,442,315 in the last quarter. Company insiders own 2.65% of the company’s stock.

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.