Cargojet (OTCMKTS:CGJTF) Shares Gap Down – Time to Sell?

Shares of Cargojet Inc. (OTCMKTS:CGJTF) gapped down prior to trading on Monday . The stock had previously closed at $62.59, but opened at $60.2540. Cargojet shares last traded at $60.2540, with a volume of 2 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Scotiabank restated an “outperform” rating on shares of Cargojet in a research note on Wednesday, August 12th. TD Securities restated a “buy” rating on shares of Cargojet in a research note on Wednesday, May 6th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Cargojet in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Cargojet currently has an average rating of “Moderate Buy”.

Cargojet Price Performance

The firm has a market cap of $897.72 million and a P/E ratio of 30.59. The business’s fifty day simple moving average is $61.49 and its 200-day simple moving average is $61.96. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 1.20.

Cargojet (OTCMKTS:CGJTF) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.09). Cargojet had a net margin of 4.48% and a return on equity of 6.73%. The company had revenue of $194.16 million during the quarter, compared to analysts’ expectations of $184.05 million.

About Cargojet

Cargojet Inc is a Canadian-based air cargo carrier specializing in time-sensitive freight transportation. The company operates scheduled and on-demand cargo services throughout Canada and into international markets, providing next-flight-out and overnight delivery for a broad range of shippers. Cargojet’s fleet—anchored by Boeing 767-300ER freighters—is configured to handle standard palletized freight as well as specialized shipments such as temperature-controlled pharmaceuticals and high-value electronics.

Headquartered in Mississauga, Ontario, Cargojet serves major Canadian gateways including Toronto, Vancouver and Montreal, and extends its network into the United States, the Caribbean and select Latin American destinations.