Cargojet (OTCMKTS:CGJTF) Shares Gap Down – What’s Next?

Cargojet Inc. (OTCMKTS:CGJTF)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $70.90, but opened at $65.76. Cargojet shares last traded at $65.76, with a volume of 100 shares traded.

Wall Street Analyst Weigh In

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

Cargojet Trading Down 4.8%

The company’s 50-day simple moving average is $66.46 and its 200 day simple moving average is $64.34.

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

Cargojet Company Profile

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.