Cargojet (OTCMKTS:CGJTF) Stock Price Up 7.1% – Here’s What Happened

Cargojet Inc. (OTCMKTS:CGJTF)’s stock price shot up 7.1% during mid-day trading on Tuesday . The company traded as high as $66.42 and last traded at $66.42. Approximately 2,835 shares traded hands during trading, a decline of 74% from the average daily volume of 11,100 shares. The stock had previously closed at $62.04.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CGJTF shares. TD Securities restated a “buy” rating on shares of Cargojet in a research note on Wednesday, May 6th. Scotiabank reiterated an “outperform” rating on shares of Cargojet in a research report on Thursday, July 16th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Cargojet Stock Up 7.1%

The company has a debt-to-equity ratio of 1.20, a current ratio of 0.91 and a quick ratio of 0.88. The company has a market cap of $989.66 million and a PE ratio of 44.58. The company has a fifty day moving average price of $60.28 and a 200 day moving average price of $62.48.

Cargojet (OTCMKTS:CGJTF) last announced its earnings results on Monday, August 10th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.09). Cargojet had a net margin of 3.62% and a return on equity of 4.96%. The company had revenue of $194.16 million during the quarter, compared to analysts’ expectations of $184.05 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.