Cargojet Inc Gaps Up Today, Is Now One of The Best Performers

 Cargojet Inc Gaps Up Today, Is Now One of The Best Performers

The stock of Cargojet Inc (TSE:CJT) gapped up by $1.42 today and has $61.57 target or 31.00% above today’s $47.00 share price. The 9 months technical chart setup indicates low risk for the $496.85M company. The gap was reported on Nov, 7 by Barchart.com. If the $61.57 price target is reached, the company will be worth $154.02 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 22,472 shares traded hands. Cargojet Inc (TSE:CJT) has risen 79.45% since April 1, 2016 and is uptrending. It has outperformed by 77.49% the S&P500.

Cargojet Inc (TSE:CJT) Ratings Coverage

Out of 4 analysts covering Cargojet (TSE:CJT), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. $52 is the highest target while $25 is the lowest. The $42.38 average target is -9.83% below today’s ($47) stock price. Cargojet has been the topic of 7 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The company was maintained on Monday, September 19 by IBC. The firm has “Sector Perform” rating by National Bank Canada given on Friday, August 14. The stock of Cargojet Inc (TSE:CJT) has “Buy” rating given on Friday, August 12 by Acumen Capital.

More notable recent Cargojet Inc (TSE:CJT) news were published by: Business.Financialpost.com which released: “Cargojet Inc. rated at $48, receives highly positive outlook from CIBC” on September 19, 2016, also Prnewswire.com with their article: “Tennenbaum Capital Partners Provides Multi-Aircraft Acquisition Financing for …” published on July 23, 2015, Theglobeandmail.com published: “Cargojet shares seen soaring further after reaching all-time highs” on August 17, 2016. More interesting news about Cargojet Inc (TSE:CJT) were released by: Stockhouse.com and their article: “IIROC Trade Halt – Cargojet Inc.” published on June 11, 2012 as well as Business.Financialpost.com‘s news article titled: “Canada’s Cargojet gearing up for e-commerce delivery surge” with publication date: August 11, 2014.

Cargojet Inc. is a provider of time sensitive overnight air cargo services. The company has a market cap of $496.85 million. The Company’s cargo business comprises operating a domestic overnight air cargo co-load network between over 10 Canadian cities; providing aircraft to clients on an aircraft, crew, maintenance and insurance basis, operating between points in Canada, the United States and Europe; operating scheduled international routes for multiple cargo clients between the United States and Bermuda, and between Canada and Europe, and providing dedicated aircraft to clients on an adhoc charter basis operating between points in Canada, the United States and other international destinations. It has a 110.97 P/E ratio. Within its overnight network, the Company also provides domestic air cargo services for a range of international airlines between points in Canada that connect such airlines’ gateways to Canada.

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