Cargojet Inc. (TSE:CJT) Senior Officer Ajay Kumar Virmani Sells 7,522 Shares

Cargojet Inc. (TSE:CJT) Senior Officer Ajay Kumar Virmani sold 7,522 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of C$140.60, for a total value of C$1,057,623.29.

Ajay Kumar Virmani also recently made the following trade(s):

• On Monday, June 24th, Ajay Kumar Virmani sold 950 shares of Cargojet stock. The stock was sold at an average price of C$133.25, for a total transaction of C$126,587.50.

Cargojet Price Performance

CJT stock opened at C$139.96 on Thursday. The business has a 50 day simple moving average of C$121.92 and a 200-day simple moving average of C$117.53. The company has a market capitalization of C$2.31 billion, a P/E ratio of 59.81 and a beta of 1.00. Cargojet Inc. has a twelve month low of C$76.50 and a twelve month high of C$143.64. The company has a current ratio of 0.96, a quick ratio of 0.79 and a debt-to-equity ratio of 85.77.

Cargojet (TSE:CJT) last issued its quarterly earnings results on Monday, April 29th. The company reported C$1.86 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.71 by C$1.15. The firm had revenue of C$231.20 million during the quarter, compared to analysts’ expectations of C$233.80 million. Cargojet had a net margin of 4.48% and a return on equity of 4.78%. As a group, equities analysts anticipate that Cargojet Inc. will post 4.4768237 EPS for the current year.

Cargojet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, July 5th will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, June 20th. Cargojet’s dividend payout ratio is currently 53.85%.

Analyst Upgrades and Downgrades

CJT has been the subject of a number of research reports. National Bank Financial upgraded shares of Cargojet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 13th. National Bankshares upgraded Cargojet from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$132.00 to C$154.00 in a report on Friday, June 14th. Royal Bank of Canada decreased their target price on Cargojet from C$184.00 to C$182.00 and set an “outperform” rating for the company in a research note on Tuesday, May 14th. Scotiabank raised Cargojet from a “hold” rating to a “strong-buy” rating in a report on Friday, June 14th. Finally, TD Securities raised their price objective on shares of Cargojet from C$162.00 to C$173.00 in a report on Wednesday, June 12th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cargojet has an average rating of “Buy” and an average price target of C$155.36.

About Cargojet

Cargojet Inc provides time sensitive overnight air cargo services and carriers in Canada. It operates domestic air cargo network services between 16 Canadian cities; and provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis operating between points in Canada, North and South America, and Europe.