Royal Bank of Canada Reiterates Outperform Rating for Cargojet (TSE:CJT)

Cargojet (TSE:CJT)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a report released on Monday, Stock Target Advisor reports. They currently have a C$300.00 price objective on the stock. Royal Bank of Canada’s price objective points to a potential upside of 45.42% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Cormark restated an “outperform” rating and set a C$275.00 price objective on shares of Cargojet in a research note on Wednesday, August 4th. ATB Capital increased their price target on Cargojet to C$235.00 in a research report on Wednesday, August 11th. National Bankshares increased their price target on Cargojet from C$226.00 to C$228.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 4th. Canaccord Genuity increased their price target on Cargojet from C$220.00 to C$230.00 and gave the stock a “na” rating in a research report on Tuesday, July 13th. Finally, TD Securities increased their price target on Cargojet from C$230.00 to C$235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 4th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cargojet presently has a consensus rating of “Buy” and a consensus target price of C$254.67.

Shares of TSE CJT traded up C$5.30 during trading on Monday, reaching C$206.30. The company had a trading volume of 46,310 shares, compared to its average volume of 93,904. The stock has a market capitalization of C$3.57 billion and a PE ratio of 91.82. The stock has a 50-day moving average price of C$195.46 and a two-hundred day moving average price of C$183.34. Cargojet has a twelve month low of C$159.80 and a twelve month high of C$250.01. The company has a current ratio of 2.05, a quick ratio of 1.70 and a debt-to-equity ratio of 71.32.

Cargojet (TSE:CJT) last posted its quarterly earnings results on Tuesday, August 3rd. The company reported C$0.94 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$1.03 by C($0.09). The business had revenue of C$172.10 million during the quarter, compared to analysts’ expectations of C$160.90 million. On average, sell-side analysts predict that Cargojet will post 6.1700003 EPS for the current year.

Cargojet Company Profile

Cargojet Inc provides time sensitive overnight air cargo services in Canada. Its air cargo business activities include operation of domestic overnight air cargo services between fourteen cities in North America; and provision of dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis operating between points in Canada, North and South America, and Europe.

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