Cargojet (OTCMKTS:CGJTF) Shares Up 7.1% – Time to Buy?

Cargojet Inc. (OTCMKTS:CGJTF – Get Free Report)’s share price shot up 7.1% during mid-day trading on Tuesday . The company traded as high as $66.42 and last traded at $66.42. Approximately 2,835 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 11,100 shares. The stock had previously closed at $62.04.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CGJTF. Scotiabank restated an “outperform” rating on shares of Cargojet in a report on Wednesday. TD Securities reissued a “buy” rating on shares of Cargojet in a research report on Wednesday, May 6th. Finally, BMO Capital Markets restated a “market perform” 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 given a Hold rating to the company. According to data from MarketBeat.com, Cargojet has an average rating of “Moderate Buy”.

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Cargojet Stock Performance

The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.88 and a current ratio of 0.91. The company has a market capitalization of $989.68 million and a price-to-earnings ratio of 44.58. The firm has a 50-day simple moving average of $60.46 and a two-hundred day simple moving average of $62.46.

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

About Cargojet

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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.

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