Cargojet (OTCMKTS:CGJTF) Shares Gap Down – Time to Sell?

Cargojet Inc. (OTCMKTS:CGJTF)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $62.99, but opened at $60.06. Cargojet shares last traded at $60.06, with a volume of 69 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CGJTF. TD Securities reissued a “buy” rating on shares of Cargojet in a report on Wednesday, May 6th. Scotiabank reaffirmed 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 currently has an average rating of “Moderate Buy”.

Cargojet Stock Performance

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 stock has a market cap of $894.89 million and a price-to-earnings ratio of 40.31. The firm has a fifty day moving average of $60.29 and a 200 day moving average of $62.74.

Cargojet (OTCMKTS:CGJTF) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.16). Cargojet had a net margin of 3.62% and a return on equity of 4.96%. The firm had revenue of $185.68 million for the quarter, compared to analyst estimates of $175.56 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.