Canaccord Genuity Group Forecasts Strong Price Appreciation for Cargojet (TSE:CJT) Stock

Cargojet (TSE:CJT) had its price target increased by investment analysts at Canaccord Genuity Group from C$165.00 to C$173.00 in a report issued on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s target price points to a potential upside of 60.95% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. Royal Bank of Canada boosted their price target on Cargojet from C$189.00 to C$193.00 in a research report on Wednesday. CIBC dropped their target price on shares of Cargojet from C$177.00 to C$163.00 in a research report on Wednesday. TD Securities decreased their price objective on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating for the company in a research note 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 on the stock in a research note on Thursday, January 30th. Finally, ATB Capital decreased their price target on shares of Cargojet from C$165.00 to C$155.00 in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$158.45.

Cargojet Trading Down 3.5 %

Shares of CJT traded down C$3.90 during mid-day trading on Wednesday, reaching C$107.49. The company had a trading volume of 98,520 shares, compared to its average volume of 90,010. Cargojet has a fifty-two week low of C$100.01 and a fifty-two week high of C$144.97. The firm has a fifty day simple moving average of C$112.99 and a 200-day simple moving average of C$123.51. The stock has a market cap of C$1.72 billion, a price-to-earnings 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.

About Cargojet

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.