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Cargojet (CGJTF) Receives a Hold from BMO Capital

In a report released today, Fadi Chamoun from BMO Capital maintained a Hold rating on Cargojet (CGJTFResearch Report), with a price target of C$165.00. The company’s shares closed last Wednesday at $107.66, close to its 52-week low of $93.83.

According to TipRanks.com, Chamoun is a 5-star analyst with an average return of 14.0% and a 69.5% success rate. Chamoun covers the Industrial Goods sector, focusing on stocks such as Canadian National Railway, TFI International, and Norfolk Southern.

Cargojet has an analyst consensus of Moderate Buy, with a price target consensus of $172.15.

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Based on Cargojet’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $234 million and GAAP net loss of $56.4 million. In comparison, last year the company earned revenue of $160 million and had a net profit of $89.4 million.

Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CGJTF in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Cargojet, Inc. provides air cargo transportation services. The firm provides aircrafts to customers on an adhoc charter basis operating between points in Canada, the USA and other international destinations. It also offers scheduled international routes for multiple cargo customers across North America, to the Caribbean, and to Europe. The company was founded by Ajay K. Virmani on April 7, 2010 and is headquartered in Mississauga, Canada.

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