Cargojet (OTCMKTS:CGJTF) Shares Gap Down – Here’s Why

Cargojet Inc. (OTCMKTS:CGJTF)’s share price gapped down before the market opened on Monday . The stock had previously closed at $68.1765, but opened at $63.90. Cargojet shares last traded at $63.90, with a volume of 100 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on CGJTF shares. BMO Capital Markets reiterated a “market perform” rating on shares of Cargojet in a report on Thursday, January 15th. Scotiabank reaffirmed an “outperform” rating on shares of Cargojet in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Cargojet Price Performance

The company has a fifty day moving average of $67.87 and a two-hundred day moving average of $63.89.

Cargojet (OTCMKTS:CGJTF) last released its quarterly earnings results on Tuesday, February 24th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.32. The firm had revenue of $207.32 million for the quarter, compared to the consensus estimate of $251.30 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.