Scotiabank Issues Pessimistic Forecast for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its price objective dropped by equities researchers at Scotiabank from C$174.00 to C$170.00 in a report issued on Monday,BayStreet.CA reports. Scotiabank’s price objective would indicate a potential upside of 34.60% from the stock’s current price.

CJT has been the topic of several other reports. CIBC upped their target price on Cargojet from C$172.00 to C$177.00 in a research report on Wednesday, December 4th. TD Securities dropped their price target on Cargojet from C$167.00 to C$165.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. ATB Capital reduced their price objective 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 Cargojet from C$160.00 to C$165.00 in a research report on Wednesday, November 6th. Finally, National Bankshares raised their price target on shares of Cargojet from C$154.00 to C$158.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cargojet has an average rating of “Moderate Buy” and an average target price of C$161.20.

Cargojet Stock Performance

TSE:CJT traded up C$3.75 during trading hours on Monday, hitting C$126.30. 36,749 shares of the company were exchanged, compared to its average volume of 89,994. The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79. Cargojet has a 52-week low of C$100.01 and a 52-week high of C$144.97. The stock has a market capitalization of C$2.04 billion, a price-to-earnings ratio of -132.95 and a beta of 0.91. The company’s 50 day moving average price is C$115.60 and its 200-day moving average price is C$125.88.

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.