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

Cargojet Inc. (OTCMKTS:CGJTF)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $70.0582, but opened at $72.4640. Cargojet shares last traded at $72.4640, with a volume of 1 shares changing hands.

Analysts Set New Price Targets

CGJTF has been the topic of a number of recent analyst reports. Scotiabank restated an “outperform” rating on shares of Cargojet in a research report on Wednesday, January 21st. BMO Capital Markets reissued a “market perform” rating on shares of Cargojet in a research note on Thursday, January 15th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Cargojet has a consensus rating of “Moderate Buy”.

Cargojet Trading Up 0.2%

The firm’s 50-day moving average price is $65.49 and its 200 day moving average price is $64.42.

Cargojet Company Profile

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.