Cargojet (OTCMKTS:CGJTF) Shares Gap Up – What’s Next?

Cargojet Inc. (OTCMKTS:CGJTF)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $62.04, but opened at $67.64. Cargojet shares last traded at $67.64, with a volume of 100 shares traded.

Analysts Set New Price Targets

Several research firms have recently issued reports on CGJTF. BMO Capital Markets reissued a “market perform” rating on shares of Cargojet in a research report on Wednesday. TD Securities reaffirmed a “buy” rating on shares of Cargojet in a report on Wednesday, May 6th. Finally, Scotiabank reiterated an “outperform” rating on shares of Cargojet in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Cargojet Stock Performance

The business has a 50 day moving average of $60.37 and a 200-day moving average of $62.48. The company has a market capitalization of $989.74 million and a P/E ratio of 44.58. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.88 and a current ratio of 0.91.

Cargojet (OTCMKTS:CGJTF) last issued its earnings results on Monday, August 10th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.09). The company had revenue of $194.16 million during the quarter, compared to the consensus estimate of $184.05 million. Cargojet had a return on equity of 6.73% and a net margin of 4.48%.

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.