Cargojet (TSE:CJT) Hits New 1-Year Low – Should You Sell?

Cargojet Inc. (TSE:CJT) shares reached a new 52-week low on Thursday . The company traded as low as C$67.84 and last traded at C$69.16, with a volume of 737037 shares. The stock had previously closed at C$80.32.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. ATB Capital cut their price target on Cargojet from C$155.00 to C$145.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. National Bankshares cut their price objective on Cargojet from C$123.00 to C$120.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. Desjardins set a C$149.00 price objective on Cargojet and gave the company a “buy” rating in a research note on Wednesday, October 1st. Raymond James Financial set a C$132.00 price objective on Cargojet and gave the company an “outperform” rating in a research note on Friday, September 5th. Finally, Scotiabank cut their price objective on Cargojet from C$140.00 to C$135.00 in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company’s stock. According to MarketBeat, Cargojet currently has a consensus rating of “Buy” and an average target price of C$140.62.

Cargojet Price Performance

The stock has a 50 day moving average of C$91.11 and a two-hundred day moving average of C$94.31. The company has a debt-to-equity ratio of 98.69, a quick ratio of 0.79 and a current ratio of 0.56. The firm has a market capitalization of C$1.04 billion, a P/E ratio of 7.67 and a beta of 0.85.

Cargojet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Friday, September 19th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.0%. Cargojet’s dividend payout ratio is currently 15.52%.

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.