Could Cargojet Inc Go Down After Reaching 52-Week High?

 Could Cargojet Inc Go Down After Reaching 52 Week High?

The stock of Cargojet Inc (TSE:CJT) hit a new 52-week high and has $67.51 target or 43.00% above today’s $47.21 share price. The 6 months bullish chart indicates low risk for the $499.01 million company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $67.51 price target is reached, the company will be worth $214.57 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 14,472 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 -10.23% below today’s ($47.21) stock price. Cargojet has been the topic of 7 analyst reports since August 14, 2015 according to StockzIntelligence Inc. On Friday, August 12 the stock rating was maintained by Acumen Capital with “Buy”. The firm has “Outperform” rating by IBC given on Monday, September 19. National Bank Canada maintained the shares of CJT in a report on Friday, August 14 with “Sector Perform” rating.

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 $499.01 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 111.46 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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment