Cargojet (TSE:CJT) Stock Price Crosses Below 200 Day Moving Average – Should You Sell?

Shares of Cargojet Inc. (TSE:CJT) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$84.07 and traded as low as C$83.01. Cargojet shares last traded at C$85.75, with a volume of 37,600 shares changing hands.

Analyst Ratings Changes

CJT has been the subject of several analyst reports. National Bank Financial set a C$112.00 price objective on shares of Cargojet and gave the company an “outperform” rating in a research note on Friday, October 2nd. ATB Cormark Capital Markets boosted their target price on Cargojet from C$110.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. BMO Capital Markets boosted their target price on Cargojet from C$85.00 to C$90.00 in a research note on Wednesday, August 12th. Acumen Capital upped their target price on Cargojet from C$115.00 to C$120.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Desjardins upped their target price on Cargojet from C$126.00 to C$135.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$121.00.

Cargojet Stock Down 0.2%

The company has a market capitalization of C$1.27 billion, a P/E ratio of 27.71 and a beta of 0.91. The company has a debt-to-equity ratio of 119.27, a quick ratio of 0.79 and a current ratio of 0.83. The stock has a 50 day moving average price of C$85.25 and a 200 day moving average price of C$84.08.

Cargojet (TSE:CJT) last released its earnings results on Monday, August 10th. The company reported C$0.67 earnings per share for the quarter. Cargojet had a net margin of 4.49% and a return on equity of 6.30%. The firm had revenue of C$275.80 million during the quarter. Equities research analysts forecast that Cargojet Inc. will post 5.89 earnings per share for the current fiscal year.

Cargojet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Investors of record on Monday, October 5th were paid a $0.3850 dividend. The ex-dividend date was Friday, September 18th. This represents a $1.54 annualized dividend and a yield of 1.8%. Cargojet’s dividend payout ratio is presently 47.57%.

Cargojet Company Profile

Cargojet is Canada’s leading provider of time-sensitive premium air cargo services to all major cities across North America, providing Dedicated, ACMI and International Charter services and carries over 25,000,000 pounds of cargo weekly. Cargojet operates its network with its own fleet of 41 aircraft.