Canadian Imperial Bank of Commerce Boosts Cargojet (TSE:CJT) Price Target to C$122.00

Cargojet (TSE:CJT) had its price objective upped by research analysts at Canadian Imperial Bank of Commerce from C$116.00 to C$122.00 in a report issued on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective points to a potential upside of 48.76% from the stock’s current price.

Several other equities analysts have also issued reports on CJT. Scotiabank upped their price target on Cargojet from C$115.00 to C$118.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Desjardins boosted their price objective on Cargojet from C$117.00 to C$126.00 in a report on Thursday, February 26th. Stifel Nicolaus upped their target price on shares of Cargojet from C$100.00 to C$120.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. BMO Capital Markets raised their target price on shares of Cargojet from C$90.00 to C$94.00 and gave the company a “market perform” rating in a research note on Thursday, February 26th. Finally, Raymond James Financial lifted their price target on shares of Cargojet from C$95.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$126.00.

Cargojet Price Performance

Shares of Cargojet stock traded up C$0.82 during midday trading on Thursday, reaching C$82.01. The company had a trading volume of 21,417 shares, compared to its average volume of 109,803. The company has a current ratio of 1.23, a quick ratio of 0.79 and a debt-to-equity ratio of 155.48. The stock has a fifty day simple moving average of C$90.82 and a 200 day simple moving average of C$86.32. Cargojet has a 1-year low of C$65.60 and a 1-year high of C$113.89. The company has a market capitalization of C$1.22 billion, a price-to-earnings ratio of 15.65 and a beta of 0.70.

Cargojet (TSE:CJT) last posted its quarterly earnings data on Tuesday, February 24th. The company reported C$1.47 earnings per share (EPS) for the quarter. The firm had revenue of C$284.70 million for the quarter. Cargojet had a return on equity of 10.73% and a net margin of 8.08%. As a group, equities research analysts forecast that Cargojet will post 5.890933 earnings per share for the current year.

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.