Cargojet (TSE:CJT) Reaches New 52-Week Low – Time to Sell?

Cargojet Inc. (TSE:CJT)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as C$99.14 and last traded at C$100.50, with a volume of 21854 shares changing hands. The stock had previously closed at C$101.34.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CJT shares. Royal Bank of Canada raised their price objective on Cargojet from C$189.00 to C$193.00 in a research note on Wednesday, February 19th. Canaccord Genuity Group raised their price objective on shares of Cargojet from C$165.00 to C$173.00 in a report on Wednesday, February 19th. ATB Capital cut their target price on shares of Cargojet from C$165.00 to C$155.00 in a research report on Wednesday, November 6th. Cormark decreased their price target on shares of Cargojet from C$140.00 to C$120.00 in a research report on Wednesday, February 19th. Finally, CIBC cut their price target on shares of Cargojet from C$177.00 to C$163.00 in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$158.45.

Cargojet Price Performance

The company has a market capitalization of C$1.62 billion, a price-to-earnings ratio of 710.23 and a beta of 0.91. The business has a 50-day moving average price of C$112.39 and a two-hundred day moving average price of C$122.64. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69.

Cargojet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Thursday, March 20th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.38%. Cargojet’s payout ratio is presently 982.53%.

About Cargojet

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.