Acumen Capital Boosts Cargojet Inc (CJT) Price Target to C$60.00
Several other research analysts have also recently issued reports on CJT. National Bank Financial cut shares of Cargojet from an outperform rating to a sector perform rating and increased their target price for the stock from C$51.00 to C$53.00 in a report on Wednesday, August 9th. Royal Bank Of Canada increased their target price on shares of Cargojet from C$57.00 to C$60.00 and gave the stock an outperform rating in a report on Tuesday. Finally, CIBC increased their target price on shares of Cargojet from C$55.00 to C$56.00 in a report on Wednesday, August 9th.
Cargojet (TSE CJT) opened at C$54.12 on Tuesday. Cargojet has a 1-year low of C$42.72 and a 1-year high of C$54.50.
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The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Wednesday, December 20th will be issued a $0.192 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Tuesday, December 19th. Cargojet’s dividend payout ratio is currently 918.75%.
In other news, insider Ajay Kumar Virmani sold 9,500 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of C$50.46, for a total value of C$479,370.00. Also, insider George Stephen Sugar sold 1,431 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of C$50.75, for a total transaction of C$72,623.25. Insiders sold a total of 33,827 shares of company stock worth $1,700,055 over the last 90 days.
Cargojet Company Profile
Cargojet Inc is a provider of time sensitive overnight air cargo services. The Company’s cargo business comprises operating a domestic overnight air cargo co-load network between over 10 Canadian cities; providing aircraft to customers on an aircraft, crew, maintenance and insurance (ACMI) basis, operating between points in Canada, the United States and Europe; operating scheduled international routes for multiple cargo customers between the United States and Bermuda, and between Canada and Europe, and providing dedicated aircraft to customers on an adhoc charter basis operating between points in Canada, the United States and other international destinations.
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