CAE (NYSE:CAE) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of CAE (NYSE:CAE) (TSE:CAE) from a hold rating to a buy rating in a report issued on Friday morning.

CAE has been the subject of a number of other reports. Canaccord Genuity Group reissued a hold rating on shares of CAE in a report on Wednesday, May 22nd. Jefferies Financial Group started coverage on CAE in a research note on Thursday, June 6th. They set a hold rating and a $21.00 target price for the company. Royal Bank of Canada raised shares of CAE from a hold rating to a moderate buy rating in a research note on Thursday, August 15th. Morgan Stanley cut shares of CAE from an overweight rating to an equal weight rating in a research report on Friday, August 16th. Finally, Canaccord Genuity Group lowered shares of CAE from a buy rating to a hold rating in a research report on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $28.00.

CAE Trading Down 1.0 %

NYSE CAE opened at $17.62 on Friday. The firm has a market cap of $5.62 billion, a PE ratio of -24.46, a price-to-earnings-growth ratio of 1.31 and a beta of 1.67. CAE has a 52 week low of $15.95 and a 52 week high of $24.88. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average price of $17.83 and a 200 day moving average price of $18.87.

CAE (NYSE:CAE) (TSE:CAE) last released its earnings results on Tuesday, August 13th. The aerospace company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. CAE had a positive return on equity of 5.96% and a negative net margin of 7.38%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts forecast that CAE will post 0.86 EPS for the current fiscal year.

Institutional Trading of CAE

Hedge funds have recently bought and sold shares of the business. Maven Securities LTD lifted its position in CAE by 25.0% during the second quarter. Maven Securities LTD now owns 50,000 shares of the aerospace company’s stock worth $929,000 after buying an additional 10,000 shares in the last quarter. Truist Financial Corp boosted its position in shares of CAE by 10.4% during the 2nd quarter. Truist Financial Corp now owns 84,490 shares of the aerospace company’s stock valued at $1,570,000 after acquiring an additional 7,935 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of CAE in the second quarter valued at about $1,417,000. Brandes Investment Partners LP grew its holdings in shares of CAE by 103.8% in the second quarter. Brandes Investment Partners LP now owns 11,071,485 shares of the aerospace company’s stock valued at $206,027,000 after purchasing an additional 5,640,269 shares during the period. Finally, Clearline Capital LP acquired a new stake in CAE during the second quarter worth about $2,290,000. Institutional investors and hedge funds own 67.36% of the company’s stock.

CAE Company Profile

CAE Inc, together with its subsidiaries, provides simulation training and critical operations support solutions in Canada, the United States, the United Kingdom, Europe, Asia, Oceania and Africa, and Rest of Americas. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare.