Cargojet (CJT) Hits New 12-Month High at $56.50
Cargojet Inc (TSE:CJT) hit a new 52-week high on Thursday . The stock traded as high as C$56.50 and last traded at C$55.90, with a volume of 8001 shares traded. The stock had previously closed at C$55.98.
Several equities research analysts have recently weighed in on the company. Royal Bank of Canada raised their target price on Cargojet from C$57.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. Acumen Capital raised their target price on Cargojet from C$56.00 to C$60.00 in a research report on Tuesday, November 14th. CIBC raised their target price on Cargojet from C$56.00 to C$60.00 in a research report on Tuesday, November 14th. Finally, National Bank Financial lowered Cargojet from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from C$51.00 to C$53.00 in a research report on Thursday, August 17th.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Wednesday, December 20th will be given a dividend of $0.192 per share. This represents a $0.77 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, December 19th. Cargojet’s dividend payout ratio (DPR) is 78.39%.
In other Cargojet news, insider George Stephen Sugar sold 6,296 shares of Cargojet stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of C$51.00, for a total transaction of C$321,096.00. Also, insider Ajay Kumar Virmani sold 7,366 shares of Cargojet stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of C$50.31, for a total value of C$370,583.46. In the last ninety days, insiders have sold 27,062 shares of company stock worth $1,369,052.
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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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