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

by · The Cerbat Gem

Cargojet Inc. (OTCMKTS:CGJTF – Get Free Report)’s share price gapped up prior to trading on Monday. The stock had previously closed at $60.9756, but opened at $64.20. Cargojet shares last traded at $64.20, with a volume of 200 shares.

Analysts Set New Price Targets

A number of analysts have weighed in on CGJTF shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of Cargojet in a research report on Wednesday, August 12th. TD Securities reiterated a “buy” rating on shares of Cargojet in a research note on Thursday, September 17th. Finally, Scotiabank restated an “outperform” rating on shares of Cargojet in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Cargojet currently has a consensus rating of “Moderate Buy”.

Read Our Latest Research Report on CGJTF

Cargojet Stock Up 4.7%

The stock has a market capitalization of $961.87 million and a PE ratio of 32.77. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.83. The stock’s 50-day moving average price is $60.36 and its two-hundred day moving average price is $62.13.

Cargojet (OTCMKTS:CGJTF – Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.09). Cargojet had a net margin of 4.48% and a return on equity of 6.75%. The firm had revenue of $194.16 million during the quarter, compared to analysts’ expectations of $184.05 million.

About Cargojet

(Get Free Report)

Cargojet Inc is a Canadian air cargo carrier that provides time-sensitive freight transportation and logistics services. Through its operating subsidiary, Cargojet Airways, the company transports packages, mail and other cargo for e-commerce companies, freight forwarders, integrators and other commercial customers.

Cargojet operates scheduled overnight air-cargo services across Canada, connecting major Canadian cities and regional markets. It also provides international and transborder cargo transportation, charter flights and aircraft, crew, maintenance and insurance (ACMI) services for customers that require dedicated freighter capacity.

Founded in 2001, Cargojet is headquartered in Mississauga, Ontario.

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